Hubpay unveils FX Hub to boost Africa-UAE trade with collect & remit solution

Hubpay unveils FX Hub to boost Africa-UAE trade with collect & remit solution

The strategic vision of the ‘We the UAE 2031’ initiative, to drive the value of foreign trade and non-oil exports, galvanized by entities like the Dubai Multi Commodities Centre (DMCC), has attracted a new wave of businesses and entrepreneurs to the UAE. This influx spans a wide range of industries, from soft commodities to cutting-edge smart devices. These businesses don't just cater to the UAE but also serve the broader region, with a special focus on Africa.

Africa's exponential economic growth has generated immense demand for a variety of products, many of which are predominantly manufactured across Asia.

The UAE, given its strategic logistical position and advanced infrastructure, has long served as the gateway between Asia and Africa. This crucial role has now expanded to include its recognition as a global FX hub. However, there has been a notable absence of comprehensive FX solutions, especially for African businesses, which has acted as a barrier to growth.

Hubpay, a leading fintech solution provider renowned for its innovative offerings, is now extending its product range to cater to a more extensive international clientele, with a particular emphasis on African businesses. The introduction of the new FX Hub marks a pivotal moment in this expansion, as