Anything from checking and savings accounts to investments, savings, insurance, and loans is included under Mobile Financial Services (MFS). On the other hand, mobile money is a subset of MFS supplied by telecommunication firms that allow users to receive, transmit, and save money through their mobile devices.
Africa is the world’s most advanced continent regarding mobile money. It has been an integral element of Africa’s financial services environment. This has been possible due to the visionaries like Mr Arif Esa.
Today, in Business Touch Magazine’s Prodigy section, we’ll look at one such multifaceted CEO, Arif Esa, who started business at a very young age and has become an inspiration. Arif created Cable Exchange Group in 2014 and moneyIN in 2022 as Private Asset Management, Trading, Infrastructure & Government consultant companies & Digital Banking / Payment Institution with a view to revolutionize the financial industry by making a cashless society in Morocco.
Arif Esa, CEO, moneyIN & Cable Exchange Group
Arif Esa is a knowledgeable, detail-oriented, and intelligent self-starter leader with a wide range of international expertise in various industries. He was raised and educated in the UK, where he graduated from Blackburn College with a B-Tec in Business Studies. Despite his early age, he is a successful businessman solely due to his devotion, hard work, and connections with government officials and high-net-worth individuals. For over two decades, Mr Arif Esa has worked in various managerial roles. As a 14-year-old, Arif started an online sales website for textiles and electronics that was a massive success before branching out into other business areas. Investing, family office management, infrastructure projects, government finance, and commodity and bond trading are only a few management areas.
In addition, Arif is a licensed foreign investor in various jurisdictions. With a net worth of over GBP 90 million, Arif is presently the CEO of Cable Exchange Group, which has successfully traded more than USD $3 billion and raised over USD $10 billion for government projects.
While serving as CEO, Arif oversees strategic business growth, financial structure, and more robust client connections, he is also responsible for overseeing all business operations, including change and program management, and he directs the success of high-performing teams. He’s had a lot of success because of his ability to communicate clearly and effectively and his knack for figuring out the little nuances.
Arif has carved out an impressive professional path for himself. As a financial counsellor to many government agencies and a manager of funds totaling more than USD $3 billion, he has worked relentlessly throughout the sector to achieve extraordinary achievements.
Previously, he served as an account executive, assistant manager, divisional guidance manager, vice president, board member, and company CEO. He worked long and hard to get the knowledge and skills to help him rise to positions of authority and more responsibility. Because of these positions, he has been able to work with some of the greatest businesses in the industry.
The moneyIN platform
For millions of individuals throughout North Africa, moneyIN aims to serve as the driving force behind the digital transformation of Morocco’s mobile money sector. Morocco’s advancements in financial technology positively impact many aspects of daily life.
A cashless society is the goal of moneyIN’s digital transformation of Morocco. From a Fintech solution that started as a cashless convenience for commuters, mobile money has developed into something that is now a part of the life of more than half of Americans.
Based on the idea of broadening access to financial services in Morocco, moneyIN has worked to rethink the use of financial technology in our everyday lives. The group’s ultimate objective of providing customers with a smooth, unified experience is getting closer with each new product introduction.
On track for deployments in South Africa, Asia, and the European Union that will allow them to link customers internationally and achieve immediate payment across the globe, moneyIN is now ready to go.
The Cable Exchange Group
For innovative infrastructure funding in some of the world’s weakest and most marginalized countries, Cable Exchange Group is one of the world’s top suppliers. With the use of creative infrastructure, the Cable Exchange Group aspires to reduce poverty in the poorest and most vulnerable countries across the globe.
The company envisions better infrastructure services in low-income, middle-income nations and fragile states to alleviate poverty and promote economic development.
“It is essential to improve the capability and resilience of frontier markets by providing financing for these projects from local capital and credit markets. We work at the cutting edge of infrastructure development in low and fragile income countries to tackle poverty.”
By providing funding, development capability and project management throughout the project cycle, the Cable Exchange Group helps support infrastructure stipulations with a strong growth impact. Delivering quality projects builds local capability and capacity while also increasing the lending potential of local loans and financial markets.
Arif’s motivation behind all that he did
“I get a kick out of accomplishing my goals and bringing honour to my organization. It’s important to me that all employees share the company’s vision and goals; therefore, that’s what drives me to do my job every day.”
On his tough days, Mr Esa always counts on the love and encouragement of his loved ones and friends to get through. To ensure success he tries to maintain a suitable work-life balance and avoid distractions. He has always been encouraged to choose a career that he likes and then try excelling in that. He believes he is among the best in the business.
“It was only natural for me to branch out into the digital banking market, given my extensive background in infrastructure development and financial structure. From our company’s history, I have a demonstrated track record of developing innovative methods to generate money and build cutting-edge technologies,” says Arif Esa.
Arif’s Communication Culture
Arif believes that successful cooperation is built on open and honest communication among all members. How one interacts with the team affects everything from distributing information to allocating tasks to encouraging them.
“I’m a big fan of keeping my business partners and staff close to communicate effectively. When I call for a meeting or conversation, they don’t have to cower in terror or act worried.”
As the CEO, Arif is well-versed in the art of keeping a respectful distance to minimize intrusion. He values open lines of communication and a welcoming work atmosphere that encourages input and discussion from everyone.
Arif’s Business Objectives
According to Arif, instant payment solutions without the requirement for a bank account connect Africa to the rest of the globe. Aiming to be Africa’s leading mobile money platform, his focus is on innovating how people spend their hard-earned cash.
Role of the CEO
“CEOs have the unique chance to develop their leadership skills, which may be a huge plus in their career. Managing people and expectations and steering a company to success are three essential skills you need. You’ll meet new people, get the opportunity to work with some of your heroes and be able to motivate others to perform their best job.”
Arif says that there are tremendous benefits of becoming a CEO, but nothing surpasses the opportunity to serve others at a higher level, whether those individuals are workers or stakeholders.
How to Make Better Decisions?
“Executive decision-making must be flawless for a corporation to succeed. Therefore, I will always act with the firm’s best interests at heart. First, I’m aware that I don’t have to make every choice, particularly if other partners and colleagues have the knowledge and power to do so. What matters most is complete faith in your partners and staff, which I have.”
Arif trusts his partners stakeholder and team, encouraging autonomy with their decision making capacity.
Arif’s successful management style and practical business experience demonstrated by keeping his finger on the pulse, offering direction and changes for the better when needed has helped Arif make significant decisions throughout his career while bring out the best in his team.
Future Plans
A system that connects all nations is the ultimate goal of Arif’s companies by offering a platform that everyone can use to make life simpler.
“The BNPL system and micro-loans will be further developed to make it more affordable for the average individual who may already be suffering from large monthly payments under the conventional system.”
The CEO, Mr Arif Esa, wants to expand the business internationally and become the premier financial technology company.
Challenges encountered in the fintech industry
“As a young entrepreneur, I’ve had to deal with many ups and downs in my career, many of which have been crucial to the success of our businesses. As a general rule, I feel that every challenge presents an opportunity just waiting to be seized upon.”
By starting Cable Exchange Group in the aftermath of the financial crisis, the team was fortunate enough to have immediate access to an enormous talent pool that provided top-notch employees rapidly and successfully to launch the business. Businesses and Governments came on board as clients and benefitted from our skills and experience in the financial sector.
Individuals and businesses faced a financial setback during the pandemic and the need to conduct commerce away from the face-to-face environment became an essential need. As a result, a digital banking service, moneyIN, was created.
“Although many individuals in Africa may not have a bank account, this does not mean that they are unable to save or spend money locally or worldwide.”
Many countries’ banking systems make it difficult for people and businesses to do long distance or international commerce.
“moneyIN was founded to solve these problems and connect Africa to the rest of the world.
All a moneyIN client needs is a working mobile phone number to send money, receive money, and pay anybody anywhere in the world, from their mobile phone without a bank account.”
There are more mobile active subscriptions than the whole human population, and moneyIN is currently revolutionizing how people finance, manage and think about money.
Arif Esa is a role model for entrepreneurs and business people around the world. His personality and vision of revolutionizing managing and controlling funds without paying a hefty up-front fee make him one of the most influential CEOs of 2022.
