NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Johnstone Kpilaakaa

Sub-Saharan Africa faces the burden of the world’s highest remittance costs. Sending just $200 to the region has become even more expensive, with the World Bank reporting a rise in average cost from 7.2% in Q2 2022 to 7.9% in Q2 2023.

In a bid to revolutionise this landscape, Appzone Group, a former fintech software provider, made a pivot with the launch of Zone and Qore, its Banking-as-a-Service business which was also carved into a separate standalone company in 2022.