Innovate 1 Pay, a Nigerian tech company has expanded its territory and business offering to the Middle East to tap into the growing popularity of Dubai among Nigerians. The country has been an attractive destination globally, with many Nigerian celebrities frequenting the middle east region.
The company, which is one of the leading brands driving tech innovation in Nigeria, said the business expansion would foster business growth between Nigerians and the United Arab Emirates. To Innovate 1 Pay, Dubai is a region that promises impressive prospect for tech companies and the company intends to earn a share of the market in the region.
According to Innovate 1 Pay, the move was encouraged by these three factors:
- Dubai becoming the location of choice for Nigerians as regards career advancement and professional fulfillment;
- the projection that Africa will overtake China and India by 2040 as the preferred job market; and
- the Visa reforms being carried out in UAE.
The company’s plan to bridge the gap between Nigeria and UAE will also include the organisation of a conference between business leaders, as well as African and UAE governments. The conference will enable the stakeholders to explore avenues of economic cooperation and facilitate bilateral trade and investment flows.
Speaking about the company’s growth prospects, the Chairman of Innovate 1 Pay, Mahmood Ahmadu, said, “With the maturing of financial markets in Africa, expanding our presence to a total of 56 countries currently, and with the promise that the new UAE visa regime holds for African professionals, we believe the prospects for growth in addressing the demographic is very promising indeed.”
Also commenting on the expansion, the company’s Chief Executive Officer, Anthony Nwachukwu, said, “The time for a concerted effort to extend financial inclusion in Africa is now. Africa is currently the second fastest-growing continent after Asia, and we are looking at an average GDP growth of 5% across the continent that has lasted a decade now.”
Since its establishment, Innovate 1 Pay has processed over a million transactions for clients in Nigeria and globally on its platform.