Africhange, the global fintech company helping Africans manage cross-border finance, has announced two major milestones in its mission to empower Africans living abroad. The firm has launched UK bank accounts through a partnership with Griffin, a licensed UK bank, and secured official Payment Service Provider (PSP) registration from the Bank of Canada, becoming one of the first 300 entities recognized under the country’s new regulatory framework.
UK Expansion: GBP Bank Accounts for African Immigrants
Through its new partnership with Griffin, Africhange now enables users in the UK to open GBP bank accounts with unique sort codes and account numbers. Unlike virtual wallets, these are fully functional bank accounts that allow customers to:
- Receive direct deposits and hold GBP balances securely
- Send and receive funds via the UK’s Faster Payments Network
- Enjoy FSCS protection on eligible deposits
- Access integrated savings options within the Africhange platform
This move directly addresses one of the biggest financial barriers faced by African immigrants in the UK, access to reliable and inclusive banking services.
“At Africhange, we don’t just understand the immigrant journey, we’ve lived it,” said David Ajala, CEO of Africhange. “We’re moving beyond remittances to become a true financial partner, giving our community a trusted place to hold their balance, manage their UK finances, and earn Afripoints, all from one platform.”
David Jarvis, CEO of Griffin, added: “Too many immigrants face unnecessary friction in accessing basic bank accounts. We’re proud to be working with Africhange in helping people access the financial tools they need to live and work in the UK.”
Upcoming Features: Send Now, Pay Later and Debit Cards
Africhange plans to launch additional features in 2026, including a “Send Now, Pay Later” option that allows users to send money instantly and settle payments later. The company also announced plans for a debit card, which will give users seamless access to spending and withdrawals both in the UK and abroad.
Bank of Canada Registration: Strengthening Compliance and Trust
In Canada, Africhange achieved a major regulatory milestone by being listed in the Bank of Canada’s inaugural Payment Service Provider Registry, published on 21 October 2025. This recognition places Africhange among the first cohort of PSPs approved under the Retail Payment Activities Act.
The registration process included a national security screening led by the Department of Finance, rigorous evaluations of operational risk management, and robust customer fund protection protocols.
“This registration validates our unwavering commitment to regulatory compliance, operational excellence, and the highest standards of consumer protection,” said Ajala. “It strengthens the trust our customers place in us every day.”
With this milestone, Africhange now operates under direct Bank of Canada supervision, upgrading its oversight from its previous Money Services Business (MSB) status with FINTRAC, which it has held since 2019.
Tega Gabriel, Head of Growth at Africhange, emphasized the importance of regulatory collaboration:
“We’re proud to be part of this new regulatory framework that fosters innovation while protecting consumers. This isn’t just a win for Africhange, it’s a win for all Canadians who rely on modern payment solutions.”
A Milestone in Global Fintech Growth
Africhange’s dual achievements, its UK banking expansion and Bank of Canada registration, reflect its growing global footprint and long-term commitment to safe, innovative, and inclusive financial services. As the company continues to bridge financial gaps for African immigrants worldwide, it is positioning itself as one of the continent’s most trusted cross-border fintech players.
