The common market of Central Africa has long been unexplored by major African fintechs but Asian companies are gradually gaining grounds and consolidating their presence. Recently joining the scramble is KiwiPay, a Singapore-based digital payment company, which has entered into a strategic partnership with the Groupement interbancaire monétique de d’Afrique centrale (Gimac). The partnership will enable it to enter the Cemac market made up of Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad.
“The agreement will optimize KiwiGo’s [KiwiPay app] services for financial inclusion and cashless payment solutions for customers and businesses in the Cemac area. The new agreement signed with the Gimac institution offers multiple services to customers and merchants while connecting them to cashless payment solutions,” a statement from the company reads.
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After the deal was struck, Gimac Managing Director Valentin Mbozo’o expressed how “excited” he was to offer people “new opportunities” through the KiwiGO mobile app. He further underlined that “mobile penetration is growing very rapidly” in the region.
For his part, the founder and CEO of KiwiPay, Gregory Schmidt, explained how the new network resulting from the partnership with Gimac will allow the startup to “deploy its super application and its catalog of services”.
Gregory Schmidt’s app is currently looking to expand to 20 countries by the end of 2021. Customers of the platform will have access to other payment gateways such as WeChat Pay, Google Pay, AliPay, and Apple. Pay, including other local mobile operators.
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KiwiGo currently offers users grocery delivery, ridesharing, food delivery, taxi, e-commerce, hotel services payments, international remittances, e-wallet and other reservation services.
The app recently launched a cryptocurrency (KGO) on the Binance Smart Chain network. This token has been listed on major international stock exchanges.
So far, it has processed over 45,000 transactions from thousands of cardholders.
KiwiPay Africa KiwiPay Africa
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer