In a strategic move aimed at reshaping the digital banking platform landscape, Dunes, a prominent Fintech platform headquartered in the United Arab Emirates, has inked a Memorandum of Understanding (MOU) to acquire a substantial stake in Be Mobile Africa.
The acquisition, slated for finalisation by the close of the second quarter of 2024, represents a pivotal moment for Dunes, solidifying its position as a frontrunner among the new wave of Fintech enterprises.
“The strategic sale of non-financial assets injects vital financial resources into Be Mobile Africa. These resources will be used to double down on key African markets, in line with the company’s mission of banking the unbanked and underbanked in Africa.” emphasized Dr Cédric Jeannot, Co-founder and CEO of Be Mobile Africa
This strategic move serves as a cornerstone for Dunes as it emerges from stealth mode, marking its official debut into the public sphere.
Dunes is primed to introduce an innovative platform that seamlessly integrates cryptocurrency with traditional banking services. This groundbreaking initiative underscores Dunes’ steadfast commitment to revolutionizing the digital banking landscape, not only in the UAE but also on a global scale.
Under the terms of the agreement, Be Mobile Africa will divest significant technological assets, including crucial components related to its banking and cryptocurrency infrastructures.
Notably, this encompasses the Be Network, a pioneering infrastructure facilitating real-time settlement of fiat and cryptocurrency transactions around the clock.
Be Mobile Africa will maintain its focus on banking services for the African continent, continuing its mission of promoting financial inclusion initiatives across the region.
A senior Dunes Financial executive expressed enthusiastic anticipation about the acquisitions, stating, “We are thrilled to embark on this journey of innovation and progress. The acquisition aligns with our vision of creating a bridge between crypto and fiat, opening up new possibilities for regulated entities and individuals. We are committed to providing a secure and compliant platform redefining how people interact with financial services.”
