Africhange is a cross-border remittance service provider founded in 2020 by immigrants to simplify international money transfers. As a Central Bank of Nigeria (CBN)-licensed International Money Transfer Operator (IMTO), Africhange specializes in facilitating low-cost, secure, and rapid transactions for individuals and businesses. The platform serves over 200,000 users globally and has processed 2+ million transactions across 100+ countries.

Core Services:

● Inward Remittances to Nigeria: Streamlining funds for education, healthcare, and daily expenses.

● Multi-Currency Transfers: Support for CAD, NGN, GBP, AUD, and more.

● Business Solutions: Bulk payments and payroll services for SMEs.

Africhange’s mission is rooted in its immigrant origins, focusing on reducing costs and eliminating intermediaries to ensure more money reaches families.

Who Owns and Operates Africhange?

Africhange was co-founded by David Ajala, a Canadian immigrant of African descent, who recognized the challenges of cross-border remittances firsthand. The company is fully bootstrapped and led by a team with deep expertise in fintech and diaspora financial needs.

Leadership & Partnerships:

● David Ajala (CEO): Advocates for affordable remittances and seamless transactions.

● Tega Gabriel (Head of Growth): Drives partnerships with Nigerian banks and global IMTOs.

● Strategic Collaborations: Partnered with three Nigerian banks and expanding alliances worldwide to enhance service efficiency.

Africhange holds licenses in Canada (FINTRAC), the UK (FCA), and Nigeria (CBN), ensuring compliance with global financial regulations.

How Does Africhange Work?

Sending money with Africhange is simple:

1. Sign Up: Create an account in minutes.

2. Choose Transfer Method:

○ Bank Deposits: Direct to Nigerian accounts.

○ Mobile Wallets: Coming soon to major platforms.

○ Cash Pickup: 5,000+ locations in Nigeria.

3. Track Transfers: Real-time updates via SMS, email, or the app.

Technology Edge:

Africhange uses blockchain mechanics and advanced APIs to reduce processing times and fees, ensuring transfers take minutes, not days.

What Are the Fees and Exchange Rates?

Africhange prioritizes transparency:

Service & Fee:

Bank Transfers: 0.5%–1.5% (lower than traditional banks)

Cash Pickup: Flat $2–$5 fee

Card Transfers: 1% + currency conversion

Exchange Rates:

● Rates are 1–2% above interbank rates, beating competitors like Western Union and MoneyGram.

● No hidden charges—see the total cost upfront.

Promotions: First-time users enjoy zero fees on transfers under $500.

How Fast Are Transfers with Africhange?

Speed varies by method:

● Bank Deposits: 0–24 hours (Nigeria).

● Cash Pickup: Instant at partner locations.

● Card Transfers: 15–30 minutes.

Delays may occur due to recipient bank processing or regulatory checks, but Africhange’s direct partnerships minimize bottlenecks.

Is Africhange Secure and Regulated?

Africhange adheres to strict global standards:

● Encryption: AES-256 for data protection.

● Compliance: Licensed by CBN, FINTRAC, and FCA.

● AML/KYC: Mandatory ID verification to combat fraud.

Funds are held in segregated accounts with partner banks, ensuring safety even during unforeseen events.

Which Countries and Payment Methods Are Supported?

Supported Regions:

● Africa: Nigeria, Kenya, Ghana.

● Americas: Canada, USA (coming soon).

● Europe: UK, EU (launching 2025).

● Asia-Pacific: Australia.

Popular Corridors:

● Canada → Nigeria

● UK → Nigeria

● Australia → Kenya

Payment Options:

● Debit/Credit Cards (Visa, Mastercard).

● Bank Transfers.

● Mobile Money (coming Q2 2025).