Revolutionising cross-border payments with Onafriq
Originally known as MFS Africa, Onafriq’s mission is to make money transfers in Africa easier. Onafriq’s technology connects millions of people in African and beyond, making them a leader in the digital payments market and major driver of financial inclusion.
Overcoming barriers to international transfers
Onafriq addresses the biggest challenges of transferring money across borders in Africa: different banks and mobile money systems don’t work well together, creating inefficiency, delays and added costs. Onafriq’s systems reduce the hassle and expense of cost-border transactions.
Why Goodwell invested
Onafriq’s mission is to make cross-border money transfers in Africa easier. Their technology connects millions of people, making them a leader in the digital payments market. Onafriq enables affordable, accessible alternatives for remittances, micro-lending, microinsurance, micro-savings, and payments, driving Africa’s financial inclusion and digital transformation
Recent achievements and future ambitions
In 2025, Onafriq expanded its user base across 41 African countries and grew live payment corridors by 20%. The company charges ~1% per B2B transaction, which helps partners reduce infrastructure costs and enables them to offer more affordable cross-border payment services.
Onafriq recently made a strategic pivot from working with agents and point-of-service infrastructure to providing the network rails through which third-party agents, banks, MTOs (money transfer operators) and MNOs (mobile network operators) transact, further expanding their ambitions for financial inclusion.
Unleashing possibilities in a borderless Africa
“We are the engine behind the transaction, we are the switch that make those transactions not only possible, but real-time, seamless and affordable. While we are deeply rooted in Africa our aspiration has always been global and and our mission is not only to connect Africans and African businesses to each other but also to the rest of the world.”
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