UAE Startup Dunes Financial Acquires Tech Assets of Be Mobile Africa

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UAE-based Dunes Financial has taken a significant step forward by signing a memorandum of understanding (MOU) to acquire a substantial portion of Canada-based Be Mobile Africa. The acquisition, expected to be finalized by the end of the second quarter of 2024, represents Dunes’ first public move since emerging from stealth mode. The firm is poised to unveil its new platform, which integrates cryptocurrency and traditional banking services.

Upon completion of the transaction, Dunes will gain access to Be Mobile Africa’s banking and cryptocurrency technologies, including its solutions for crypto and fiat transaction settlements. This acquisition aligns with Dunes’ vision of establishing a bridge between cryptocurrency and fiat currencies, thereby creating new opportunities for regulated entities and individuals.

Be Mobile Africa operates as an all-in-one money app that utilizes AI and blockchain technology to deliver financial services across the African market. Its offerings include features like instant international money transfers, payments, and multi-currency accounts.

Dr. Cédric Jeannot, co-founder and CEO of Be Mobile Africa, highlights that the sale of non-financial assets to Dunes Financial injects crucial financial resources into Be Mobile Africa. These resources will be instrumental in the company’s efforts to expand its presence in key African markets, aligning with its mission of providing banking services to the unbanked and underbanked populations in Africa.