Global money transfer, foreign exchange and payment solutions brand, UAE Exchange has today announced the rebranding of its Uganda operations as Unimoni. The announcement was made by Promoth Manghat, Executive Director of Finablr and Group CEO, at an event held at Pearl of Africa Hotel in Kampala, in the presence of Vice President of Uganda Hon. Edward Kiwanuka Ssekandi, and other dignitaries, partners and guests.
The new brand reflects the company’s aspirations to strengthen its global presence and provide a broader spectrum of innovative financial services to its customers.
As part of its Africa growth strategy, Unimoni plans to be present in 14 African markets by the year 2020, and has developed a healthy pipeline of digital payment solutions designed to cater to the specific needs of the African customers.
The re-branding exercise follows an earlier announcement made by UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty, Founder and Chairman of the UAE Exchange Group. In April 2018, Dr. Shetty launched Finablr, a holding company which, subject to regulatory approvals.
Finablr aims to bring together Dr. Shetty global portfolio of category-leading financial services brands including Unimoni, UAE Exchange, Travelex, and Xpress Money under one umbrella.
“As a group, we’ve earmarked USD$100 million (roughly UGX373.8 billion) in investments to support our growth and expansion efforts in Africa over the next decade. As Unimoni, we will facilitate seamless and connected experiences for our customers and pave the way towards sustainable development and inclusive growth of the various African markets,” said, Promoth Manghat, Executive Director of Finablr.
Finablr network extends across 45 African markets. With 29 branches in Africa offering affordable money transfer and foreign exchange services. Unimoni plans to significantly increase its retail footprint over the coming years. Additionally, the brand is also making aggressive investments in customer-focused technology innovations as well as collaborating with ecosystem partners to provide an enhanced service proposition to its customer base.