How Noah Powers Africa’s Next Generation of Fintechs

Africa is one of the most dynamic regions in digital finance. From remittances to payroll to mobile wallets, millions rely on innovative platforms every day to send, receive, and spend money. Companies like Afriex, HoneyCoin, and Nestcoin are building what users need - and Noah provides the global payments and compliance layer that lets them scale.

African fintechs face consistent barriers:

• Remittances remain critical: In 2024, Africa received USD 92.2 billion in remittances. Fees to Sub-Saharan Africa still average 6–8%, among the highest globally.
• Global hiring is surging: By 2030, Africa will supply the world with over 200 million workers. Digital/remote jobs are expected to grow by ~42%, driven by international hiring.
• Digital economy boom: Africa’s digital economy is projected to expand from USD 180 billion in 2025 to USD 712 billion by 2050.
• Payroll friction: USD is on one side of nearly 90% of global FX trades, and together with EUR accounts for over 90% of invoicing in EU trade. Employers benchmark salaries in these currencies - but most African workers only hold local-currency accounts, leading to conversion losses, settlement delays, and compliance headaches.

Without the right infrastructure, fintechs risk high costs, regulatory hurdles, and poor customer experience.

Noah provides the infrastructure layer that plugs African fintechs directly into global payments:

• Virtual Accounts: Dedicated EUR and USD IBANs in each end-user’s name — ideal for payroll, freelance work, and remittances.
• Instant Settlement: International transfers are converted and settled instantly in stablecoins or local currency.
• Global Reach: 120+ payout corridors and 60+ supported currencies, ensuring fintechs can serve users everywhere.

Compliance is often the biggest barrier for African fintechs looking to scale. Regulatory complexity and licensing are repeatedly flagged as the #1 challenge by African fintech founders, with some estimates suggesting 20–30% of operational costs are tied up in compliance processes.

Noah solves this with two flexible models:

Noah-Managed KYC: Noah handles onboarding, ID verification, transaction monitoring, and regulator relationships via a hosted flow.

Reliance Model: For regulated partners, Noah accepts simplified KYC data via API while conducting ongoing monitoring — keeping onboarding fast and oversight intact.

Africa is on the cusp of explosive digital growth:

• 11 million new jobs in AI, data, and cybersecurity are expected across Africa by 2030.
• A 10 percentage point increase in Africa’s share of the outsourcing market could create 5 million direct and 7 million indirect jobs.
• There is demand for an additional 1.7 million higher-skilled workers by 2030.

Yet, the ability to pay salaries across borders remains limited and expensive. Without direct access to EUR and USD accounts, global employers hesitate to scale hiring in Africa.

With Noah and partners like Afriex, HoneyCoin, and Nestcoin, that barrier is removed. African workers can get paid directly in EUR or USD — instantly and compliantly.

• Afriex: A consumer-focused payments app widely used for remittances and P2P transfers. By integrating Noah’s virtual EUR and USD accounts, Afriex enables users to receive international salaries and remittances seamlessly in hard currency.
• HoneyCoin: A mobile-first platform tailored for young, digitally native Africans. With Noah’s accounts, HoneyCoin gives its users direct access to digital dollars, helping them bypass local currency volatility.
• Nestcoin: A pioneer in Africa’s digital creator, gaming, and Web3 economy. Nestcoin is integrating Noah’s infrastructure to allow its community and talent base to receive global earnings in EUR without friction.

These companies focus on user experience and growth — while Noah handles the complexity of onboarding, monitoring, settlement, and cross-border payouts.

At Noah, our mission is to set money free. By powering fintechs across Africa, we’re enabling millions to join the global economy - whether through remittances, payroll, or digital platforms. Book a demo here.