AZA Finance Issues Correction to Erroneous Inclusion in FTX Chapter 11 Bankruptcy Filing
12.11.2022 02:35:00 EET | Business Wire | Press release
Statement from Elizabeth Rossiello , CEO and founder of AZA Finance , on the FTX Chapter 11 Bankruptcy filing:
“I was shocked and disappointed to see that FTX named BTC Africa S.A. and other AZA Finance entities in its Chapter 11 bankruptcy filing today. To be clear: AZA Finance entities are not affected by the FTX bankruptcy, and we are taking steps to correct the erroneous court filings.
AZA Finance is a global payments and foreign exchange fintech. Founded in 2013 as BitPesa, we empower companies worldwide and within Africa to move money, exchange currencies, make payments and settle easily across all major African and G20 currencies (including some digital currencies). AZA Finance is licensed in multiple jurisdictions as a payments provider. We do not hold customer funds and never have. Less than 10% of our transactions across all of our entities are via digital currencies.
Earlier this year, we announced a commercial partnership with FTX Africa to expand web3 in Africa by helping them build regulated, safe and low-cost payments rails, as well as other discussed but not-yet-launched initiatives such as African artist NFT collections.
In doing so, FTX Africa became a customer of AZA Finance, first utilising our stable and efficient infrastructure to pay out to a small number of customers in Africa. However, neither FTX nor any of its associated entities own or control AZA Finance or our entities, including BTC Africa SA. Our entities are not part of the FTX bankruptcy. In its disorganised haste, FTX erroneously listed our entities in their bankruptcy filing.
For additional clarity, our entities that are not part of the FTX bankruptcy include:
- B Transfer Services Limited UK
- Exchange4Free Limited UK
- BTC Africa SA
- BT Payment Services Ghana Limited
- BT Payment Services Nigeria Limited
- BT Payment Services Uganda Limited/B Transfer Services
- BT Payment Services South Africa PTy
- TransferZero
- B For Transfer Egypt
- B Transfer Services Ltd UAE
- BitPesa Kenya Ltd
- BitPesa Senegal Ltd
- BitPesa South Africa
- BitPesa Tanzania Ltd
- BitPesa Uganda Ltd
- BitPesa RDC SARL
- BTPesa Nigeria Limited
- BTSL Limited Tanzania
- Exchange4Free Seychellen
- Exchange4Free Australia Br.
- Exchange4Free Swiss Br.
- Exchange4Free SouthAfrica Br.
- FinFax Company Limited
These entities are not impacted by the FTX bankruptcy in any way. AZA Finance, our entities and our businesses remain independent and healthy.
AZA Finance is and was one of the first Fintech companies to launch from Nairobi, Kenya - and the first foreign currency exchange globally to also trade crypto to mobile money. Volatility is not something that surprises or affects us. We are sad to see a major brand fail, and we urge all fintechs and financial institutions to adhere to global regulation and industry best practices.”
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221111005572/en/
Contact information
Rachel Pipan, Communications
rachel@azafinance.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
HM King Mohammed VI Presides Over the Launch Ceremony of the Aircraft Landing Gear Production Plant Project, Representing an Investment of €280 million by the Safran Group in Morocco13.2.2026 22:10:00 EET | Press release
His Majesty King Mohammed VI, may God assist Him, accompanied by HRH Crown Prince Moulay El Hassan, chaired on Friday at the Royal Palace in Casablanca the presentation and launch ceremony of the project to build a landing gear production factory for Safran in Nouaceur, a project that reinforces Morocco as a destination of choice and a true integrated industrial actor at the heart of the global economy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213269786/en/ His Majesty King Mohammed VI, accompanied by HRH Crown Prince Moulay El Hassan, chaired on Friday at the Royal Palace in Casablanca the presentation and launch ceremony of the project to build a landing gear production factory for Safran in Nouaceur Considered one of the largest manufacturing centres in the world for Safran Landing Systems, the plant will represent an investment of more than EUR 280 million, create 500 jobs, and operate on 100% decarbonised energ
Sultan bin Ahmed visits Huawei R&D Centre and SMG in China13.2.2026 19:52:00 EET | Press release
His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of the Sharjah Media Council, visited the Huawei Research and Development Centre and Shanghai Media Group (SMG) in Shanghai, People’s Republic of China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213682693/en/ Sultan bin Ahmed visits Huawei R&D Centre and SMG in China (Photo: AETOSWire) His Highness toured Huawei Village, which spans 2.2 million square metres and comprises over 100 buildings and laboratories, employing more than 30,000 staff. He observed the master plan of the village and its key facilities that support the company’s business strategy and product development. He also reviewed the specifications of the buildings, constructed to the highest standards, and the diverse services provided to employees, including restaurants, cafes, entertainment venues, and rest areas. The center also offers easy access via train
Volue Welcomes TA Associates as New Strategic Investor13.2.2026 12:15:00 EET | Press release
Volue, a global leader in electrification and energy technology, today announced that TA Associates (“TA”), a leading global private equity firm, has joined as a new strategic investor alongside Advent International (“Advent”), Generation Investment Management (“Generation”) and Arendals Fossekompani. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213436945/en/ Over the past 18 months, Volue has undergone a strategic transformation to sharpen its focus on the energy sector. During this period, Volue divested non-core activities and invested in targeted R&D innovation and strategic acquisitions to further position Volue as a leading provider of integrated technology solutions for power trading and generation, grid optimization, and energy market intelligence. Operating at the center of one of the most mission-critical markets of our time, Volue provides technology that enables utilities, grid operators, traders, and energy
ABB strengthens electrical engineering advisory capabilities in Europe with Premium Power acquisition13.2.2026 11:30:00 EET | Press release
ABB today announced it has entered into an agreement to acquire Premium Power, a leading electrical engineering consultancy headquartered near Dublin, Ireland. For more than two decades, Premium Power has established its reputation as a trusted advisor to large customers, particularly in data centers, pharmaceutical manufacturing and other mission-critical sectors where electrical resilience, uptime and regulatory compliance are essential. The transaction is expected to close in the first quarter of 2026. Financial terms were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213161407/en/ Paula O'Neill, Managing Director, Premium Power (L) and Owen Flood, Local Division Manager, ABB Electrification Service (R) As demand for electrification accelerates and power systems become more complex due to digitalization, renewable integration and grid constraints, customers increasingly require specialist advisory suppo
EnergyAustralia, Enerven and NHOA Energy Mark Financial Close and Project Launch of the 245 MWh Hallett Battery in South Australia13.2.2026 09:00:00 EET | Press release
NHOA Energy, global provider of utility-scale energy storage systems, today marked together with EnergyAustralia and Enerven the official project launch of a 245 MWh Battery Energy Storage System (BESS) in Hallett, near the town of Canowie, in South Australia, following the achievement of financial close and the project’s transition into the delivery phase. The milestone was announced today during a project launch ceremony held at the Hallett Power Station, attended by representatives of EnergyAustralia, Enerven, NHOA Energy, government, Traditional Owners and local community stakeholders. Owned and developed by EnergyAustralia, the Hallett BESS is being built alongside the existing Hallett gas-fired power station and represents the first stage of a broader site development. As delivery partner for Stage 1 of the project, NHOA Energy will supply a Battery Energy Storage System delivering 245 MWh of guaranteed usable energy capacity (50 MW with five hours of storage) at Beginning of Lif
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom