Afrasim

Afrasim is a technology-driven company headquartered in Lagos, Nigeria, that specialises in providing advanced digital payment and financial inclusion solutions across sub‑Saharan Africa. Founded in 2014 by entrepreneur Eyo N. Kalu, the firm initially focused on mobile money interoperability for small businesses and has since expanded its portfolio to include APIs for online merchants, prepaid card issuance and micro‑loans. Afrasim’s core proposition is to simplify cross‑border transactions for merchants that traditionally rely on informal cash‑based supply chains.

The company operates a proprietary software platform that aggregates multiple mobile network operators, banks and third‑party payment processors, enabling instant settlement and real‑time reporting to merchants. Its services are available in more than fifteen African markets, including Ghana, Kenya, Tanzania and Zambia, and it boasts a user base of over 1.2 million registered merchants. In 2018 Afrasim partnered with the World Bank’s International Finance Corporation to roll out a pilot program in Ethiopia aimed at boosting e‑commerce in rural districts. The subsequent 2020 rollout in Kenya saw the company’s transaction volume increase by 35 percent year‑over‑year.

Afrasim is a privately held entity with an estimated valuation of $80 million as of 2023. Its leadership team comprises former executives from both the telecommunications and banking sectors. The firm is known for investing heavily in data analytics and blockchain‑based reconciliation to reduce fraud and improve the transparency of payment flows. While primarily a B‑to‑B provider, Afrasim also offers a consumer mobile wallet launched in 2022 to enable end‑to‑end payment solutions for low‑income households. The overall impact of Afrasim’s services has been measured in terms of increased digital payment penetration, reduced transaction costs and expanded access to credit for small‑scale traders across the continent.