• Verto opens Dubai hub for local money market liquidity and faster Africa–Gulf trade.

• The regulator's licence enables same-day multi-currency settlements.

• United Arab Emirates now key Africa–Asia trade hub, flows up 35% since 2019.

London-based fintech Verto, which already processes over USD 15 billion annually in cross-border payments for corporate clients, has opened a new office in Dubai after obtaining a licence from the Dubai Financial Services Authority (DFSA) in early 2025. The new hub claims to provide direct access to dirham liquidity and same-day local clearing.

This represents an opportunity for African importers and exporters in Nigeria, Kenya, Ghana, and South Africa to settle Arab Emirates Dirham-denominated invoices without first converting to U.S. dollars. The expansion comes at a time when dollar shortages, wide foreign exchange spreads, and week-long settlement delays continue to challenge many African banks.

According to CEO Ola Oyetayo, Verto aims to “wire real-time, multi-currency capability into the corridors that will define Africa’s next decade of growth.” The company’s move away from legacy systems that route payments through New York reflects a push toward faster and more cost-efficient settlement chains aligned with modern trade dynamics.

Verto also announced the launch of its 2025 Africa Startup Awards, designed to accelerate digital trade across the continent. Finalists—selected from more than 300 applicants in sectors such as supply-chain finance, digital logistics, and automated FX hedging—will gain access to Verto’s Atlas Suite. This suite of embeddable APIs allows startups to hold over 40 currencies, collect payments through local bank accounts, and disburse funds via domestic rails without building their own infrastructure.

The Dubai base positions Verto at the heart of a growing trade corridor between Africa and Asia, with the United Arab Emirates emerging as a major transit point for South–South commerce. According to the IMF’s Direction of Trade Statistics, Africa–Asia merchandise flows routed through the Emirates have risen by 35 percent in volume since 2019. Verto expects this trend to deepen as initiatives such as the Pan-African Payment and Settlement System (PAPSS), supported by the Afrexim Bank, gain wider adoption.

Helen Ghebreluul, Verto’s newly appointed UAE Country Manager, noted that the firm’s DFSA licence enables it to hold client funds in AED, USD, EUR, and GBP under a unified regulatory framework. This capability offers African corporate treasurers same-day value, tighter spreads, and built-in compliance—advantages that traditional correspondent banks often struggle to deliver.

By establishing regional liquidity in Dubai and integrating African fintechs through its Atlas APIs, Verto is positioning itself as a private-sector complement to the continent’s public financial integration efforts. Analysts suggest that this approach could reduce settlement cycles from several days to just minutes, strengthening the efficiency and resilience of trade between Africa and the Gulf region.

Cynthia Ebot Takang