Boss Money app enables users to send, receive, carry, and exchange money in multiple local currencies across Francophone Africa.

US-based IDT Corporation, a global fintech company, is expanding its Boss Money app into Francophone Africa; namely Senegal, Côte d'Ivoire, Cameroon, and the Democratic Republic of Congo.

The company says the app enables users to send, receive, carry, and exchange money in multiple local currencies across Francophone Africa. It also enables direct receipt of remittances from friends and family in the US, said the company.

The expansion by the fintech comes as African fintech is becoming a hotbed for investment, with momentum set to increase.

The ‘Global Fintech 2023: Reimagining the Future of Finance’ report forecasts that Africa will be the fastest-growing region globally and projects a compound annual growth rate of fintech revenue of 32% until 2030.

Nat Robinson, CEO, Boss Money Africa, commented: "We are excited to expand our Boss Money services and bring our solutions to Senegal, Côte d'Ivoire, Cameroon, and the Democratic Republic of Congo.

“We’ve tailored the app specifically to meet the pressing need among the unbanked for a cross-border transaction platform in these markets.”

The company hopes the app will ‘redefine the financial transaction landscape for individuals and small businesses’ in Francophone Africa, offering solutions tailored to the specific needs of the region.

"Our goal is to empower individuals and businesses with convenient, secure, and affordable financial services across Africa, enabling them to thrive and build a brighter future," said Grace Anyetei, IDT’s regional director of operations.