This archive report was first published on 7 August 2019.
Published on August 7, 2019, Nigeria's payment gateway Innovate 1 Pay has expanded its presence to the United Arab Emirates (UAE) by opening its Dubai office.
The move aims to cater to the growing number of African expatriates in the region, providing them with payment services, international money transfers, and wholesale foreign exchange management, as well as being their exclusive distributor of foreign currency.
According to Mahmood Ahmadu, chairman of Innovate 1 Pay, the company has expanded its presence to a total of 56 countries, and sees the UAE as a promising market due to the new visa regime that holds great prospects for African professionals.
With the UAE becoming a hub for trade between Africa and Asia, and one of Africa's top business and tourism destinations, Innovate 1 Pay is strategically positioning its payment gateway and financial services platform to link between Dubai and several African nations.
Anthony Nwachukwu, CEO of Innovate 1 Pay, emphasized the company's mission to address the social goal of providing financial services to the 40% of the world's population in Africa who lack access to banking services.
