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Kora is the new Commonwealth-sourced foreign direct investment (FDI) project for the West Midlands

February 27, 2023
August 9, 2022
3 mins read
Doyinsola Ajayi
Doyinsola Ajayi
Communications & Events Specialist

Editor's note:

As the Commonwealth Games opened in Birmingham, the UK, pan-African payments infrastructure, Kora, was announced as a new Commonwealth-sourced foreign direct investments (FDI) project for the West Midlands.

Caption (L-R) Gideon Orovwiroro (COO, Kora), Councillor Ian Ward (Leader of Birmingham City Council) Adeteju Adeleye (Head, People and Culture, Kora) and Bhagyashree Bhansali (Founder, The Disposal Company) at the unveiling of Kora as the new investment project at the Commonwealth Business Forum in Birmingham, UK.

India’s first plastic credit platform, The Disposal Company, was also announced alongside Kora.

Business leaders and government officials, including outgoing Prime Minister Boris Johnson, gathered at the International Convention Centre, organised in partnership with the Commonwealth Enterprise and Investment Council, as Kora was unveiled during a presentation at the Commonwealth Business Forum.

Both Commonwealth-sourced investments have been secured as a direct result of the Global Growth Programme, a new UK government-backed support package for international companies looking to grow in the UK. The programme will provide Kora and The Disposal Company with a free support package, including office space at Bruntwood SciTech’s Innovation Birmingham campus.

Caption (L-R) Gideon Orovwiroro (COO, Kora), Andy Street (Mayor of the West Midlands) and Adeteju Adeleye (Head, People and Culture, Kora) at the unveiling of Kora as the new investment project at the Commonwealth Business Forum in Birmingham, UK.

Speaking on the investments, Andrew Griffith MP, UK Minister for Exports, said: “I’m so pleased to share these new investments, a direct result of the Global Growth Programme, which has helped to showcase the potential of the West Midlands for businesses to invest in. We already have free trade agreements with 33 Commonwealth nations and additional ones currently being negotiated. These will unlock fresh opportunities for further collaboration, particularly in the green industries that are priorities for the UK and our Commonwealth partners.”

Caption (L-R foreground) Andrew Griffith (MP, UK Minister for Exports), Gideon Orovwiroro (COO, Kora), on the sidelines of the Commonwealth Business Forum in Birmingham, UK.

In pursuit of its mission to enable payments across, into and outside of Africa, the West Midlands office will be Kora’s first European presence. The Techstars-backed company has chosen Birmingham as the location for its first UK sales and support office due to the city’s established fintech and banking ecosystem and its rich tech-oriented talent pool.

Marking our first ever European investment, the launch of our new Birmingham office is a major milestone for Kora. The region’s extensive pipeline of tech talent and strong track record in FinTech and banking will support us in enabling more businesses and individuals to use our innovative payments infrastructure,” said Gideon Orovwiroro, Chief Operating Officer at Kora.

The West Midlands Global Growth Programme is part of the Birmingham 2022 Commonwealth Games Business and Tourism Programme (BATP) — the first economic legacy programme of its kind aligned to the Commonwealth Games and is designed to strengthen bilateral ties between the UK and other Commonwealth markets.

About Kora:

Kora is a pan-African payment infrastructure offering a robust payment API for payment collections (payins), disbursements (payouts), and settlements.

Kora’s services enable global companies to scale rapidly across Africa. With a single integration, Kora powers businesses to accept payins and payouts to customers and settlements across popular payment channels.

For more information and interview requests, please contact:

Lagos; ‘Gbenga Onalaja| Head Marketing and Communications, Kora|