Nigeria has long been recognized for its pool of young and ambitious population. A huge percentage of this young population is dominated by those who want to study abroad. A survey exploring Nigerian youth's perception of education found that 9 in 10 Nigerians are interested in pursuing a university degree with a foreign institution.
A reason for this is that studying abroad can be a life-changing experience, opening doors to new knowledge, cultural enrichment, and a broader worldview. However, the financial implications of this endeavour can be overwhelming, with expenses including tuition fees, accommodation, travel, and living costs.
For many students and their families, accessing the necessary funds to embark on this journey can be an uphill task. Africhange is a remittance company that enables users to send money to and from across Africa and North America.
The platform is able to offer better rates because it uses blockchain technology to power payments. This ensures users have a unique and seamless remittance experience.
After building a solid relationship with its customers since it began in 2020, the remittance company is set to deepen this relationship by launching a foundation. Africhange Foundation is an initiative by Africhange to give back to the community that has trusted them.
The foundation will target international students who are looking to pay their tuition fees or are looking to move money between Nigeria and Canada. Young Nigerians who want to study abroad will be offered grants to support them in achieving their study abroad dreams.
According to Tega Ogigirigi, the Growth Manager at Africhange, Africhange’s foundation will offer specialised rates and support the students with a grant of $2,500(CAD). “We understand the challenges Nigerian international students go through with paying their fees and other bills, and we hope we can make the remittance experiences more seamless.”
Related story: AfriChange is helping Canada’s growing African community remain financially connected to home
Through the program, 20 students who are either currently schooling in Canada or Australia or have admissions with proof to Canada or Australia would get a grant of $2500. Applicants must have graduated with at least a second class lower in the first degree in a Nigerian University or have good WAEC scores.
Why Africhange is different?
On Africhange, users can send money from Canada to Nigeria, Ghana, US, Mexico, Kenya, Benin Republic, Togo, Senegal e.t.c. The remittance company also differentiates its offerings in the market with an in-depth knowledge of the Canadian market, vast network and community.
With an in-depth knowledge of the market, Africhange offers users a seamless cross border payment experience like no other remittance service. Before launching Africhange, David Ajala, the founder, has spent 10 years in Canada.
He’s lived the experience of the typical African immigrant in Canada who’s looking to find affordable and fast ways to send money back home. So when Africhange began, he leveraged his experience building SaaS products and his vast network to build a solution that is agile and efficient.
Also, the growth of Africhange has been slow and steady. Other leading Nigerian remittance startups have raised funds one time or the other since launch. However, since it began in 2020, Africhange has operated fully bootstrapped. Tunji Obaoye, a Senior Product Manager at Africhange said, “one of the milestones we’ve achieved since launch is bootstrapping the startup. This enables the startup to focus on optimising the platform for customers while offering the best rates in the market.”
Speaking to Bendada.com on a call, Africhange’s Consultant for Growth & People, Peace Itimi said, “We're focused on optimising the platform by offering good rates and using the reverse corridors to make money to sustain the business. That shows how much we care about our customers. So we are not building for the present. At least that might change in the near future, because at some point we're going to need to scale. But we're not building with the mindset of we want to be the most exorbitant fees because we're trying to get investors in return, which is one of the reasons we're able to offer superb rates at the moment.”
Africhange is a community focused platform that prioritises the wellbeing of their clients. Asides creating a seamless cross border experience for African immigrants, the remittance company offers specialised rates specific to students who are looking to pay bills or their school fees, or who are looking to move money from Nigeria to Canada.
Beyond ensuring seamless transfer of funds to Africa and North America, with low cost and without unnecessary transfer fees, Africhange seeks more remittance corridors. The startup recently launched in Australia and wants to enter the US, UK and other European markets. The company also plans to increase the platform's app features and ease the money transfer process.
Meet Africhange Foundation
Every individual who's ever boarded a plane or ship with hopes of a brighter future in a foreign land knows that such a journey is never just about miles travelled; it's about navigating through unfamiliar terrains, grappling with unseen challenges, and constantly yearning for a foothold.
With a vision to level the playing field for Africans worldwide, Africhange has launched a foundation as a distinct entity under its umbrella. Africhange foundation is a charity organisation that is dedicated to the upliftment of Africans seeking a fresh start across the globe.
Its purpose is steeped in deep empathy and understanding; after all, as an organisation founded by an immigrant, it intimately grasps the myriad of challenges, emotions and sheer bravery involved in leaving one's homeland to forge a new path elsewhere.
They are awarding 20 deserving African students with grants of $2,500 each. This not only serves as a financial boost but also stands as a symbol of encouragement, a gesture that says, "We believe in you."
In essence, the Africhange Foundation isn't merely providing financial aid; it's nurturing dreams, fostering ambitions, and championing the spirit of resilience. As the world becomes an increasingly interconnected global village, this foundation is ensuring that African voices aren't just part of the chorus but are strong, vibrant and resonant.