Ripple and Onafriq Partner to Revolutionize Cross-Border Payments in Africa

Ripple, a payments company, has announced a new partnership with Onafriq, a fintech firm operating in 40 African markets. The collaboration aims to facilitate cross-border payments between Africa and several other regions.

Onafriq will utilize Ripple's crypto-enabled payments technology to establish payment corridors connecting 27 African countries with the United Kingdom, Australia, and the Gulf Cooperation Council (GCC). The GCC represents the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait.

Dare Okoudjou, the founder and CEO of Onafriq, believes that this partnership aligns with the company's mission of reducing the significance of borders in payment transactions involving Africa. By leveraging blockchain technologies, the collaboration is expected to enable fast, secure, and cost-effective remittances at scale.

The 27 African countries included in this partnership are Benin, Botswana, Burkina Faso, Burundi, Central African Republic, Egypt, Equatorial Guinea, Eswatini, Ethiopia, Gambia, Ghana, Ivory Coast, Liberia, Madagascar, Malawi, Mali, Morocco, Mozambique, Niger, Nigeria, Senegal, South Africa, Tanzania, Togo, Uganda, Zambia, and Zimbabwe.

In conclusion, Ripple's partnership with Onafriq is a significant step towards revolutionizing cross-border payments in Africa. By leveraging Ripple's technology, this collaboration aims to facilitate fast, secure, and affordable remittances between Africa and other regions, ultimately reducing the impact of borders on payment transactions.