Onafriq, Africa’s largest payments network, connecting more than 40 African markets, has joined the Fintech Association of South Africa (FINASA) as an Enterprise Member, reinforcing its commitment to supporting South Africa’s rapidly evolving fintech ecosystem and advancing seamless cross-border payments across the continent.
The membership comes at a time when South Africa is strengthening its position as a gateway for payments flowing into and across the continent. Policymakers and industry stakeholders are increasingly focused on cross-border payments, remittance costs, interoperability and the modernisation of domestic payments infrastructure. As digital commerce expands and the African Continental Free Trade Area (AfCFTA) continues to drive regional trade, the demand for interoperable payment infrastructure is becoming increasingly important.
Through a single integration, Onafriq connects mobile money wallets, bank accounts, money transfer operators, merchants and enterprises through what it describes as a network of networks. Today, the network reaches more than one billion mobile wallets and 500 million bank accounts across more than 40 African markets. Supported by 16 payment licences and a regional presence that includes Johannesburg, Onafriq enables businesses and consumers to move money seamlessly across borders.
“South Africa is one of Africa’s most important financial markets and a gateway for regional commerce. Joining FINASA enables us to collaborate more closely with regulators, fintech innovators and ecosystem partners as we continue building payment infrastructure that makes moving money across Africa simpler, faster and more inclusive. We look forward to sharing our experience from across the continent while supporting the continued growth of South Africa’s fintech ecosystem,” said Grace Anyetei, Regional General Manager, Southern and East Africa at Onafriq.
Through its FINASA membership, Onafriq will participate in industry discussions focused on cross-border payments, payment interoperability, mobile money, remittances, payments modernisation and regulatory development, while working alongside industry stakeholders to strengthen South Africa’s digital payments ecosystem.
“As South Africa’s fintech ecosystem continues to mature, the ability to move money across borders quickly and affordably has become central to how our members build and grow. Onafriq has spent more than a decade building that connective layer across the continent and brings both scale and hard-won regulatory experience across multiple African markets. We are pleased to welcome them into the FINASA ecosystem and look forward to the role they can play in industry conversations around cross-border payments, interoperability and the future of digital finance in South Africa and across Africa,” said Danielle Lawrence, COO of FINASA.
Together, FINASA and Onafriq will strengthen collaboration across the payments ecosystem and support the development of more connected, inclusive and interoperable financial services. As intra-African trade continues to grow under AfCFTA, this collaboration will contribute to building the payment infrastructure needed to help businesses and consumers participate more fully in Africa’s digital economy.