AFi provides a platform that enables African micro and small businesses to send and receive trade-related payments across borders. By streamlining international payments, AFi aims to connect these businesses to global markets and facilitate participation in the global economy.
Funding
Funding not disclosed
Founders
Product
Problem
Micro and small businesses in Africa face challenges with cross-border payments, often relying on slow, expensive, and unsafe non-banking methods. These traditional methods hinder their ability to participate effectively in the global economy. These businesses conduct a significant volume of B2B payments annually using these inefficient systems.
Solution
AFi provides a platform that enables African micro and small businesses to send and receive trade-related payments across borders swiftly, affordably, and securely via their mobile phones or web application. AFi empowers these businesses with enterprise-grade payment solutions, leveling the playing field and facilitating their participation in global trade. The platform supports secure sending and requesting of payments using mobile money and bank accounts. Users can quickly provide supporting documentation and easily access transaction history to monitor their business.
Target Audience
The primary target audience is un(der)banked micro and small businesses in Africa and the African Diaspora that engage in cross-border trade.
Features
- Send and receive payments securely using mobile money and bank accounts.
- Low transaction fees and interbank FX rates.
- Accessible via web and mobile app in Ghana & Togo, with plans to expand to WAEMU, Nigeria & US.
- Supporting documentation can be provided quickly.
- Transaction history is easily accessible for business monitoring.