General
How Africa’s Largest Payments Network is Integrating Social Mission With Business Aspirations
Being deliberate about creating a “greater purpose” is essential to building an authentic corporate culture, engaging stakeholders, and navigating the evolving landscape of corporate philanthropy. This is the philosophy behind Africa’s largest digital payments network, Onafriq’s, extensive growth and vision to unify the continent’s digital payments landscape according to its General Counsel and Chief Risk Officer Funmi Dele-Giwa.
Dele-Giwa recently shared insights into the organisation’s unique position at the intersection of social impact and commercial ambition at the Women in Payments Symposium EMEA, held in London. During her speech, she delved into the company’s journey in delivering greater financial access and connecting all of Africa into a single integrated network that empowers both individuals and businesses.
“The purpose of Onafriq from the very onset was one of providing financial access to marginalised individuals on the African continent and having a positive impact in the countries we operate in and the clients we serve,” she said. “That is why Onafriq was built on the back of a strong belief that mobile money would serve as a strong enabler of financial access to millions of under- or unserved Africans.”
Established nearly 15 years ago with the mantra of “making borders matter less”, the company aims to facilitate cross-border payment services within Africa – as well as in and out of Africa. This is underpinned by the vision of its Founder and CEO Dare Okoudjou, that making a payment anywhere in the world, to anywhere across the globe should be as easy and as painless as it is to make a phone call.
Today, Onafriq’s payments network connects more than 1,300 cross-border payment corridors providing access to more than 500 million mobile wallets and 200 million bank accounts across 40 African markets. This vast digital infrastructure is a testament to its position as the “network of networks”, enabling services like cross-border payments, remittances, card issuing, agency banking and more, which facilitate seamless money flow from, to, and across the continent.
During her talk at the symposium, Dele-Giwa noted that remittance services were a key example of this marriage of concepts, having particularly emerged as a powerful tool for boosting economic growth and financial empowerment. By partnering with international remittance companies, the Onafriq network enables the significant pool of migrant workers from Africa in the diaspora to send and receive money efficiently and affordably. She notes, however, that remittances are not just the privy of the global north to south, as there is significant intra-Africa remittance demand which has traditionally remained unmet. Through partnerships with mobile network operators (MNOs) across the Continent, Onafriq is bridging gaps between countries like Kenya and Uganda, as well as Cameroon and Nigeria, by digitising and facilitating intra-Africa remittance flows.
“Strategic collaborations between key sectors of Africa’s financial services landscape are key to unlocking the full potential of remittances as a catalyst for economic growth and development,” said Dele-Giwa. “As such, fostering robust partnerships between payment networks and mobile money platforms is important to enabling greater remittance flows given the widespread adoption of mobile wallets across the continent.”
Another way that Onafriq is blending the principles of social betterment with business objectives is by empowering small businesses in Africa to flourish and grow by enabling access to a wider range of choices in disbursing or collecting digital payments over cash. Onafriq’s partnership with One Acre Fund is an example of how the company’s network has contributed to providing small-scale farmers with asset-based financing services.
“Our work to open up markets and connect people to opportunities continues to empower the African gig economy, enabling GDOs to deliver cash assistance to needy communities and international merchants to pay local creators, influencers and artists, as well as helping small traders to sell their goods across borders, by simplifying the ways they can pay and can get paid,” said Dele-Giwa.
Another notable aspect of Onafriq’s journey of positive social impact, according to Dele-Giwa, is its commitment to empowering women. Through its agent network in Nigeria, women entrepreneurs are able to generate additional income by becoming agents, and by using the Baxi point of sale device they can easily manage payments for their shops and market stalls. Furthermore, partnerships with organisations like the One Acre Fund helped to empower women in small-scale farming, amplifying their economic participation.
For those seeking to emulate Onafriq’s success, Dele-Giwa noted that it was important to align their social mission with the innovation and collaboration needed to achieve a positive impact while pursuing commercial success.
“Let’s remember, it’s not just about the services we offer. It’s about the impact we make while doing so,” she said. “It’s important to share those impactful stories of empowerment and positive change delivered as a result of your products and services, but it is also important to create a set of impact metrics to measure success by. This way you are always able to hold yourself accountable to employees, shareholders, regulators, clients, and other stakeholders.”
By Aduragbemi Omiyale
The sum of N3.3 trillion has been approved by President Bola Tinubu to finally clear the outstanding debts in the power sector.
A statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, said the “long-standing debts accumulated between February 2015 and March 2025.”
It was stated that the payment plan for the debts under the Presidential Power Sector Financial Reforms Programme should restore reliable electricity to the country.
“Following verification, N3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution,” a part of the statement noted.
“Implementation has begun, with 15 power plants signing settlement agreements totalling N2.3 trillion. The federal government has already raised N501 billion to fund these payments. Out of the amount, N223 billion has been disbursed, with further payments underway,” it added.
The statement said, “With payments reaching the power value chain, generation will be more stable. With power plants supported, electricity reliability will improve.”
“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector — ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” the Special Adviser to the President on Energy, Ms Olu Arowolo-Verheijen, was quoted as saying in the statement.
“It is part of a broader set of reforms already underway — including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.
“The government is also prioritising power supply to businesses, industries, and small enterprises — because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.
“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she added.
President Tinubu has commended all stakeholders who supported efforts to resolve the legacy issues in the power sector. He has also confirmed that the next phase (Series II) will begin this quarter.
By Adedapo Adesanya
Former Vice-President Atiku Abubakar has hired Von Batten-Montague-York, L.C., a Washington-based lobbying firm, to protect and strengthen his “reputational standing” in the United States for $1.2 million.
According to The Cable, the contract agreement was signed by Mr Karl Von Batten, the managing partner at the firm, and Mr Fabiyi Oladimeji, a Nigerian politician, on March 9 and 10, 2026, respectively.
Based on a document filed with the US Department of Justice, one of the contract’s objectives entails that the firm will “counterbalance” the Nigerian government’s “lobbying narratives” in the US. It comes after the federal government reportedly spent $9 million to strengthen lobbying with the US government earlier this year.
Mr Abubakar, who is eyeing the Nigerian presidency, is currently with the African Democratic Congress (ADC). He will use the firm to “advance understanding” within US policymaking institutions of his “leadership posture and policy vision”.
Based on the contract details, the firm will facilitate and arrange meetings for the former vice-president to engage with US government officials and members of Congress.
Von Batten-Montague-York will also provide the politician with “guidance on policy positioning, reputational considerations, and engagement strategy”.
“These activities include lobbying and government affairs engagement with Members of Congress, congressional staff, and executive branch officials concerning issues related to democratic governance, regional stability, economic development, and U.S. engagement with Nigeria and the broader West African region,” part of the contract details reads.
“The Registrant (lobbying firm) may advocate for policies and perspectives aligned with the foreign principal’s stated positions, including matters relating to governance, economic policy, and bilateral relations with the United States.
“The Registrant also engages in promotion, perception management, and public relations activities designed to enhance understanding among U.S. policymakers and relevant stakeholders of the foreign principal’s policy positions, leadership posture, and strategic priorities.
“This includes the development of messaging strategies, narrative positioning, and reputational advisory services.
“In furtherance of these activities, the Registrant prepares, distributes, and may assist in the dissemination of informational materials, including briefing memoranda, policy papers, talking points, and related communications, intended to inform U.S. government officials and stakeholders.”
The former vice-president is expected to pay the $1.2 million for the 12-month contract in six instalments.
By Dipo Olowookere
The need for Africa to protect itself from many external shocks not of its making has again been emphasised by the African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the UN Economic Commission for Africa (UNECA).
On the margins of the 58th session of the Economic Commission for Africa in Tangier, Morocco, the continent was tasked to strengthen regional integration, accelerate African-led financial solutions, and invest decisively in energy, food, and trade resilience so as to move from vulnerability to preparedness.
The meeting focused on the spikes in energy, food and fertiliser prices caused by the ongoing conflict in the Middle East.
The United States and Israel launched airstrikes on Iran in February 2026, and since then, global oil prices have surged by more than 50 per cent as of late March. Twenty-nine currencies in Africa have weakened, raising the cost of servicing external debt and importing food, fuel, and fertiliser.
Disruptions linked to Gulf energy supplies limit access to ammonia and urea during the critical March–May planting season. This will affect agricultural production, compounding risks of crisis and emergency levels of food insecurity, especially for low‑income households and import‑dependent economies.
To address these issues, the quartet has asked African leaders to, in the short-term, stabilise fuel, food, and fertiliser supply, and execute medium‑term reforms to strengthen energy security, targeted social protection, and regional trade under the African Continental Free Trade Area (AfCFTA).
They also tasked leaders to come up with long‑term structural reforms towards stronger domestic resource mobilisation and African financial safety nets, including accelerated implementation of the African Financing Stability Mechanism.
“Continued escalation of the conflict worsens global instability, with serious implications for energy markets, food security, and economic resilience, particularly in Africa, where economic pressures remain acute,” the chairperson of AUC, Mr Mahmoud Ali Youssouf, said.
Also commenting, the UN Under-Secretary-General and Executive Secretary of UNECA, Mr Claver Gatete, said, “Africa has been hit by too many external shocks not of its making. Crises like this reinforce why Africa must finance more of its own future and strengthen regional solutions that build resilience before the next shock hits.”
On her part, the UN Assistant Secretary‑General and Director of UNDP’s Regional Bureau for Africa, Ms Ahunna Eziakonwa, submitted that, “With the right mix of policy choices, financing tools, and political resolve, Africa can weather this shock and emerge more resilient, more self-reliant, and better positioned to shape its own economic future.”
“As global crises multiply, Africa’s response must evolve from managing shocks to fostering resilience. African institutions and development partners need to act swiftly and in concert, leveraging their comparative advantages to cushion short-term shocks while laying the foundations for long-term resilience,” the president of AfDB, Mr Sidi Ould Tah, stated.
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