EMQ, a financial settlement network, has announced its footprint expansion into Africa, offering customers from around the world secure, affordable and real-time cross-border settlements across multiple markets in the continent
Connecting EMQ’s global network to Africa provides greater access to the rapidly growing digital financial services across the region.
Max Liu, co-founder and CEO of EMQ, said, “Africa is one of the most important strategic growth markets for EMQ with a thriving mobile economy estimated to reach US$185bn in 2023 in sub-Saharan Africa, which is driven by a new generation of technophiles across the continent. And yet the cost of sending money to Africa remains the highest in the world at 9.3 per cent.
“Our new African gateway bridges the gap in making financial services more accessible and affordable by offering real-time payment capabilities for our global senders, including the more than 30mn Africans living outside of their home countries.”
Powered by EMQ’s global financial settlement network, customers from around the world can transfer money directly back home within minutes to 18 countries, including some of the largest and most dynamic countries in the world - Nigeria, Uganda, Ghana, Ethiopia, and Kenya. This will create a more inclusive economy with greater access to digital financial services for a region where only 43 per cent of the population have access to financial services3.
“This is an exciting milestone for EMQ as we continue to invest in our network infrastructure and strengthen our compliance capabilities across Europe, Middle East and Africa (EMEA) to deliver innovative financial services in the region,” Liu added.
