Africa’s tech landscape is undergoing rapid change, with innovators across the continent reimagining how business is done. At the Africa Tech Summit—a melting pot of founders, investors, and operators—these changemakers converge to share insights that could redefine the African tech ecosystem. Among the visionaries at this year’s event is David Kimani, CEO of Afrex, a company focused on revolutionizing cross-border payments using stable coins.
#AfricaTechSummit: “It’s been an incredible experience.”
For David, attending the summit is more than just networking; it’s an opportunity to deepen collaborations and form new partnerships in the rapidly evolving African tech space. “It’s great to see so many payments companies we partner with, both locally and internationally,” he says, emphasizing the summit’s role in uniting diverse stakeholders under one roof.
From “Africa + Exchange” to Seamless Transactions
The name Afrex is derived from “Africa” and “Exchange,” reflecting the company’s mission to simplify cross-border payments on the continent. Leveraging stable coins, Afrex offers solutions that help startups, import/export businesses, and payment providers circumvent traditional banking delays.
Part of our mission is to educate startups and entrepreneurs on how to use stable coins for business operations,” David explains. With Afrex, users can quickly convert local currencies to digital assets, providing immediate liquidity and drastically reducing settlement times—sometimes from several days to mere minutes.
Over-the-Counter Services for Every Scale
Afrex caters to both large transactions—above 50 million—and smaller deals around 50,000 addressing the needs of institutional trading and cross-border payments. By offering an OTC (Over-the-Counter) brokerage, the company ensures businesses can access dollar liquidity without dealing with the often cumbersome processes of traditional forex channels.
Stable coins provide a seamless way to reduce transaction costs and time,” David notes. “Especially for import-export businesses needing dollar liquidity, this approach can be transformative.
#AfricaTechSummit: “Compliance is critical in the fintech space.”
Navigating Africa’s complex regulatory environment is no small feat. Afrex takes compliance seriously, engaging with Virtual Assets Chambers to consult with treasury departments on digital asset best practices. The company also adheres to AML (Anti-Money Laundering) policies, conducts thorough KYC (Know Your Customer) checks, and ensures its infrastructure meets local banking regulations.
Our infrastructure is designed to manage both local currency and digital assets compliantly,” David emphasizes, highlighting Afrex’s commitment to legitimate and safe transactions.
Envisioning Africa’s Digital Currency Future
While much of Africa remains cash-dependent, David believes that stable coins will gradually reshape the continent’s economic landscape—much like mobile money did in Kenya. As he sees it, stable coins can facilitate instant, cost-effective conversions to U.S. dollars for international trade, drastically simplifying the lives of import-export businesses.
Just like mobile money transformed local transactions, stable coins can revolutionize cross-border payments,” he asserts, underscoring the vast potential for businesses needing immediate dollar liquidity.
Looking Ahead
As Afrex continues to expand, David remains optimistic about the role of digital currencies in Africa’s emerging markets. By eliminating long settlement times and high fees, Afrex aims to empower entrepreneurs and organizations alike.
It’s not just about technology; it’s about creating an ecosystem that fosters growth,” he concludes. “We believe Africa has the potential to become a global leader in cross-border digital payments, and stable coins are a key part of that journey.
With that vision—and the support of events like the Africa Tech Summit—David Kimani and Afrex are paving the way for a future where cross-border transactions in Africa are frictionless, secure, and truly inclusive.
