The latest investment is aligned with DafriGroup’s commitment to drive economic opportunities in cities across the African continent. The group targets startups, with high growth potential, using emerging technology tools to provide revolutionary solutions to meet modern challenges in underserved communities.
The $5 million dollars investment will help launch DafriBank as a fully formed self-sustaining and innovative digital-only bank with a full range of products and services. In addition, the financing will support the development and expansion of the bank’s short and long term goals.
“DafriGroup is on a mission to ensure that Africa fulfils its economic potential by empowering businesses across the continent.” said the group Chairman Xolane Ndhlovu. “The board’s decision to invest in DafriBank rests on the massive potential embodied by its unique digital banking solutions turning one of the continent’s difficult challenges into a global business opportunity, and we are excited to see the bank become an industry juggernaut.” he said.
DafriBank’s CEO Ramaswamy Easwara also shared the following sentiment: ‘I am incredibly grateful to DafriGroup for this generous investment especially in this critical early stage of our development that will ensure we hit the ground running. This investment, along with our fully developed business plan, industry experience and expertise will bring our goal of providing the best digital-banking services to fruition.”
About DafriGroup PLC
DafriGroup is a multinational public company founded in 2019 by South African/Nigerian billionaire entrepreneur, Xolane Ndhlovu who currently leads the company as the chairman. The flagship of the company is DafriGroup PLC registered in South Africa, Nigeria and Botswana with its headquarters in South Africa. The company has a diverse range of interest in multiple industries as evidenced by its fast growing list of subsidiaries including UMEH, DafriTechnologies, DafriBank, DafriExchange, DafriAir, OMAHA Hotels, DafriEstate, Royal IVY, and UMEH Motors among others serving millions of customers in Africa and on a global scale.
About DafriBank Digital
DafriBank Digital is a multifunctional African digital-only bank that will provide a wide range of financial services including money deposits, transfers, exchange, to diversified clients. The Fintech company is set to launch in the 3rd Quarter of 2021 with headquarters in South Africa and will maintain offices in multiple locations all over Africa. The startup fintech outfit announced private token sales for early investors in February 2021 through sister company DafriXchange Africa.
To be part of early investors in DafriBank Digital DBA Token please go to www.dafriexchange.com /investment to fill in the form.
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