New Telegraph

Excitement as DafriBank Digital kicks off operations


Chief Architecture of DafriBank, Catharine Anajemba has said that DafriBank services are targeted at alleviating the suffering and problems being faced by digital entrepreneurs across African nations.

This comes as the long awaited roll-out of DaftBank Digital banking offerings to the public officially start today.

The bank officially started operations to the public on July 7, meaning any individual can use DaftBank Digital platforms.

Before now, only private persons were making use of DaftBank Digital platform. DaftBank Digital is an offshore bank duly licensed by the Central Bank of Comoros.
Anajemba said that because of this unique service, DafriBank has been the choice of people all over the black continent.

“My eight years as a digital entrepreneur afforded me the opportunity to understand the fiat bridge issues faced by digital entrepreneurs, and DafriBank addresses these issues which explains why 80 percent of African digital entrepreneurial class preferred DafriBank.

“DafriBank Digital enterprise grade solution is suited for businesses aiming to enter African digital market. It acts as a fiat-to-digital currency bridge for African growing digital entrepreneurs an inch that has been largely ignored by the conventional banks,” explains the Chief Architecture, Catharine Anajemba.

“Stock market and crypto traders who trade with platforms that enabled DafriBank as a method of payment are able to instantly add funds to their trading account without having to involve brick and mortar bank cards that often been restricted or expensive for such transactions,” she said.

DafriBank is a branchless and borderless financial technology company providing customized financial services, payment gateway solutions and growth opportunities to digital entrepreneurs and businesses.

The company leverages its global bank agent network to avail its services in these nations. The prototype enables users in the countries where DafriBank has no offices to utilize its local agents to send/receive cross border payment in a matter of minutes.

The company has also listed a number of merchants such as OMAHA Hotels, Deriv Limited, DafriXchange, B-Exchange, and UMEH Motors among others as early subscribers and walking on onboarding more merchants to its networks.

In 2020, the company raised $6 million from a group of private investors in series A funding led by DafriGroup PLC, a South African based public company with branches in Nigeria and Botswana and has released the first version of its digital banking solution with focus on offering seamless payment gateway solutions to medium sized digital enterprises.

Xolane Ndhlovu, Chairman, DafriGroup Plc said: “We are pleased to continue to support DafriBank Digital’s rapid expansion and extensive reach through organic growth and acquisitions across the globe. DafriBank is an exciting, large fintech player that is leveraging its impressive technology platform and logistics capabilities to rapidly formalize informal channels and provide an affordable, safe alternative to risky informal remittance channels.

“DafriBank is a strong and stabilizing presence in the markets and regions in which we operate, providing inflows vital to immigrants and central banks alike.

“We work closely with regulators and central banks in this highly regulated industry to lead in compliance and provide innovative products that are affordable and accessible to our customers.”

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