In Africa, where traditional banking services often remain out of reach for many, Velmie is stepping in to drive change. We are thrilled to announce the launch of our latest initiative with A2 Holding, a leading connectivity group with extensive experience in Fintech, ICT and Internet provider based in Nouakchott, Mauritania, aimed at transforming mobile payments there. This collaboration marks a significant step forward in expanding financial inclusivity and accessibility in the region.
According to recent statistics from Cambridge Centre for Alternative Finance, approximately 57% of Africa's population lacks access to traditional banking services. According to the World Bank, over 350 million adults in Sub-Saharan Africa lack access to a bank account, highlighting the urgent need for innovative solutions to bridge this gap. However, the fintech market in Africa is rapidly expanding, with a reported growth rate of 60% annually, indicating a strong demand for innovative solutions to address the needs of underserved communities.
A2’s new project will introduce a comprehensive mobile payment solution that facilitates seamless deposit/withdrawal, payments, and many others innovative financial operations. Leveraging the concept of agent banking, A2 and Velmie aims to empower individuals and businesses in Mauritania by providing convenient and secure financial services through a network of local agents.
Agent banking plays a crucial role in extending banking services to unbanked and underbanked populations, allowing them to conduct financial transactions conveniently and affordably. Through this project, Velmie and A2 aims to bridge the gap between traditional banking services and the needs of communities in Mauritania, ultimately fostering economic growth and development.
A2 Holding CEO, Ahmed Amou El Arby expressed: "As one of the founders of the mobile banking era in Mauritania through a strategic partnership with the first mobile banking solution in the country and with our large qualified agents network and deep understanding of the unreached market segments, we have decided to launch our own mobile payment solution in order to enhance the customers experience while bringing a cutting edge solution with added value services. Broad international market research results in selecting Velmie for this project due to their unparalleled expertise, experience, and reputation in the fintech industry. Furthermore, Velmie commercial, business development and technical team show a professionalism and a deep knowledge in the finance sector which make the communication easier and even helped us to enhance the solution targeted. Our collaboration with Velmie is driven by our shared commitment to innovation and providing new opportunities to our market. We believe that our innovative ideas with Velmie's creative solutions and technological prowess will enable us to achieve our mission of introducing new possibilities and opportunities to our users."
Velmie's selection as the technology partner for this project underscores its commitment to delivering reliable, cost-effective, and forward-thinking solutions to its clients. The project's main goals include introducing innovative and creative solutions to the market while relying on Velmie's expertise in fintech technologies. By avoiding the copy-and-paste approach, A2 aims to pioneer new possibilities and opportunities for its users, thereby driving positive change and growth in the industry.
At Velmie, we understand the unique challenges facing the fintech industry in different regions globally, and we are committed to empowering businesses with the tools and solutions they need to succeed. With our comprehensive suite of fintech software solutions, backed by the latest technologies and industry expertise, we enable our clients to innovate, grow, and thrive in today's dynamic marketplace.
