The Challenge
A leading agro-commodities trading company in the UAE had been facing significant financial challenges with their African operations. After years of successful trading in Africa, their latest transaction left them with 600 million Malawi Kwacha (approximately USD 300,000) stuck with a local partner in Malawi for over six months. Without a reliable way to move the money back to the UAE, their African business was at a standstill.

The Solution
When Hubpay reached out to the client, our team quickly identified the problem and introduced them to our Collect & Remit service. This solution allows businesses to collect payments in multiple African currencies and remit the funds in USD directly into their UAE bank accounts.

The Outcome
After learning about our service, the client immediately opened an account with Hubpay. We worked closely with them to agree on currency exchange rates and facilitated the transfer of their stuck funds. After six months of uncertainty, the client was finally able to retrieve their money, much to their relief. The successful transaction inspired the client’s management team to reboot their African operations, which they had previously put on hold. In fact, the client committed to working with Hubpay on USD 10 million worth of annual business, confident that they now had a reliable partner to handle their African payments seamlessly.

Key Stats

• 600 million Malawi Kwacha (USD 300,000) stuck for 6 months, retrieved via Hubpay

• Client committed to USD 10 million in annual business with Hubpay

• Collect & Remit service enabled cross-border payment collection in African currencies