In a significant move that signifies its evolution and global aspirations, Africa's largest digital payments network, formerly known as MFS Africa, has rebranded itself as Onafriq. This rebranding effort is not just a change in name; it reflects the company's journey and its vision for the future.
A Growing Footprint: Expansions and Acquisitions
Onafriq's decision to rebrand comes after a period of remarkable growth and strategic acquisitions. Notably, the acquisition of GTP has enabled the company to extend its reach into the US market. According to Dare Okoudjou, the founder and CEO of Onafriq, the rebranding was necessitated by the company's expanding horizons.
He expressed, "The name MFS Africa, just like an old jacket, was getting a little tight for us as we've grown. We've expanded beyond just mobile financial services, becoming a true omnichannel platform across the continent and beyond."
Trademark Challenges and the Birth of Onafriq
Trademark challenges also played a role in this transformation. Okoudjou revealed that the trademark "MFS" was held by another US-based company, causing limitations on its use outside of Africa. The birth of "Onafriq" has unified the brand and eliminated such legal encumbrances. The name "Onafriq" beautifully combines 'Ona,' the Yoruba word for pathways, with 'Afrique,' the French word for Africa. This amalgamation reflects the company's goal to weave a network of networks, connecting every corner of the continent.
One Africa: Uniting a Borderless Continent
The name Onafriq also embodies the vision of "One Africa," where borders become less relevant, and an interconnected, borderless continent emerges. Okoudjou stated, "From the get-go, my goal was to build a payment infrastructure that touches every corner of Africa and that lasts for over 100 years. My hope is that we get to do that and that we get to make borders truly matter less."
Breaking Down Barriers for Economic Growth
In a continent marked by fragmented payment systems and complex cross-border transactions, Onafriq aims to break down these barriers. By doing so, it seeks to facilitate economic growth, international trade, and empowerment, ultimately fostering a more prosperous Africa.
A Call for Collaboration: Making Borders Matter Less
As Onafriq steps into its next phase, it extends an invitation to partners, stakeholders, and the entire African community. Their goal is to collectively drive innovation, collaboration, and progress in the region, with a shared vision of making borders matter less for millions of Africans on the continent.
