Dubai, UAE – February 20, 2024 – In a strategic move aimed at redefining the landscape of digital platforms providing access to banking products and services, Dunes, a Fintech platform based in the United Arab Emirates, has entered into a Memorandum Of Understanding (MOU) to acquire a substantial portion of Be Mobile Africa. The acquisition, slated for completion by the end of the second quarter of 2024, marks a significant milestone for Dunes, positioning the company as a trailblazer in the latest generation of Fintech companies.
This move marks a crucial milestone for Dunes as it steps out of stealth mode, heralding its entry into the public domain. Dunes is poised to unveil an unprecedented platform, seamlessly integrating cryptocurrency and traditional banking services. This groundbreaking initiative signals Dunes’ unwavering commitment to redefining the digital banking landscape in the UAE and beyond.
As part of the agreement, Be Mobile Africa will sell significant technology assets, including key components related to its banking and cryptocurrency infrastructures. Notably, this includes the Be Network, a game-changing infrastructure facilitating real-time settlement of fiat and cryptocurrency transactions 24/7. Be Mobile Africa will retain banking services for the African continent, continuing with its focus on fostering financial inclusion initiatives across the continent.
“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
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.”
Stay tuned for more details regarding the acquisition and the strategic vision behind them in the coming weeks.
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