The changing tide of Forex trading across Africa

By February 15, 2018Blog Posts

For many years ; Africa was considered a poor continent with little or no access to technology, power and other basic necessities. Mobile phones were scarce and for a long time, living in Africa was all about survival.

In the past decade or so, things started looking more positive for the once considered “dark continent” – life in Africa isn’t only about survival anymore, but communities in Africa now look beyond the basics of mere survival and are now looking more into how the community can move Africa forward as a whole.

The new look Africa has its eyes set on the future – embracing innovations and advancements such as new ways of business, technology and allowing the exchange of various currencies into the economy to facilitate transactions beyond borders.

Forex Trading in Africa

The people of Africa have taken so much interest in forex trading as a way of earning that the numbers of forex trading companies in Africa have increased. In countries like Nigeria and South Africa, it is on record that they have over 40 operational Forex trading companies – this is because these companies have realised the change in mindset of the people and how big a business opportunity this is.

Tailored Payment schemes

Forex trading companies realised that mobile wallets are the way to go on the continent – making the locals pay using cards and banks means that a business is limiting its market. When trading companies finally accepted mobile money as a form of payment, more and more people got involved in Forex trading because of the convenience it gives when paying and receiving earnings.

How Forex Trading companies work with Mobile wallets in Africa

Forex trading companies have integrated with Dusupay to make it possible for their clients to pay using mobile wallets.

Both collections and payouts are easily done with mobile money that their clients are accustomed to. No need to worry because these companies can now pay and accept payments with the use of their mobile phones.

A link has been created between Forex trading companies that use banks and Africa’s mobile wallets to transact with people as quickly and conveniently as possible.