Onafriq, Africa’s largest digital payments network, has unveiled a new feature in Ghana that enables users to transfer funds effortlessly between prepaid cards and mobile money wallets. This development marks a significant step in giving consumers more flexibility and control over how they manage their finances. The service allows top-ups, withdrawals, and cross-platform transfers, all in real time.
Expanding Access Through Strategic Partnerships
The rollout of this new functionality is powered by Onafriq’s partnerships with First Atlantic Bank (FAB) and Agricultural Development Bank (ADB). These collaborations make it possible for users to link their wallets and prepaid cards, helping bridge the operational gap between mobile-first financial tools and card-based transactions. The result is a more inclusive, versatile system that caters to the evolving needs of Ghanaian users.
A Solution Built for Africa’s Financial Landscape
In many parts of Africa, mobile money is the primary store of value, but it is not universally accepted—particularly in global or card-reliant commerce. Onafriq’s new feature addresses this by integrating wallets with prepaid cards, effectively expanding the reach and usability of mobile money. As Ike Anison, Country Director for Onafriq Ghana, explained, this gives users the freedom to transact across both local and global ecosystems.
Riding the Wave of Fintech Integration
The innovation reflects a broader trend in African fintech, where the goal is increasingly to connect the continent’s most accessible financial tools with global payment infrastructures. Onafriq’s 2023 acquisition of Global Technology Partners (GTP) has been instrumental in making such interoperability a reality. By enabling real-time funding and defunding of cards through wallets, the company is addressing both convenience and financial inclusion.
User Demand Backed by Strong Market Numbers
According to the Bank of Ghana's May 2024 data, there are over 68 million registered mobile money accounts in the country, with 24 million active users. This highlights the massive potential impact of more integrated services like Onafriq’s. By allowing consumers to fluidly manage money across platforms, the company is aligning with user demand for more intuitive and flexible financial tools.
Voices from the Banking Sector
Banking partners have voiced strong support for the new feature. Franklin Gbedzi, CIO of First Atlantic Bank, noted the practicality and intuitive user experience the platform provides. Similarly, Alexander Forson, Head of E-Business at ADB, emphasized that this update empowers customers with better control over how and where they use their money.
Onafriq’s card-to-wallet integration in Ghana underscores its broader mission to build Africa’s most connected payments network. With nearly a billion mobile wallets and 500 million bank accounts in its ecosystem, Onafriq is moving closer to making money transfers as simple and seamless as a phone call. This launch not only enhances payment flexibility but also sets the stage for deeper digital financial inclusion across the continent.