Oneremit secures multi‑jurisdictional licences to power African cross‑border payments
Oneremit now holds licences in four key jurisdictions: IMTO approval in Nigeria, FINTRAC and RPAA registration in Canada, and FinCEN compliance in the United States, with regulatory expansion underway in the UK, Côte d’Ivoire and Ghana. This multi‑jurisdictional framework lets the company route enterprise transfers through fully audited, legal channels while maintaining strict AML and KYB standards. In under two years of operation, Oneremit has processed more than $200 million in cross‑border business payment volume. CEO Hammed Afenifere says the regulatory foundation allows the firm to expand services without compromising compliance, moving the complexity of cross‑currency, cross‑banking and cross‑jurisdictional transactions onto the provider rather than the African business. The platform also gives clients access to US ACH/Fedwire, European SEPA/SEPA Instant and Canadian Interac/EFT payment rails, enabling settlement in local currency and greater visibility into FX pricing, transaction status and settlement documentation. For treasury teams, this combination improves predictability around payment costs and timelines and creates clearer records for reconciliation, audit and reporting. Will African businesses choose this regulated, transparent route despite potentially higher fees, or continue to rely on cheaper but opaque channels that risk transaction freezes or losses?