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Muinmos has acquired an equity stake in Africa Due Diligence as part of its partnership with the onboarding technology and KYC solutions provider to enhance trust and compliance in the African financial sector.
Africa Due Diligence is a UK-based regtech firm specializing in the African markets. Its Al-powered due diligence and risk intelligence across 54 African countries is a critical factor in building up trust in African markets.
ADD performs full KYC checks of investors and thorough due diligence of African financial institutions offering their services via its platform.
Valued by McKinsey analysts at $230 billion (2025 revenue), African markets increasingly pose as low-hanging fruits for brokers across the globe, but identity verification and compliance usually come in the way. Enter ADD, which enables them to access a large untapped market, in an informed manner, removing significant market-entrance barriers.
Africa Due Diligence was founded by Joe Tom Nyama
ADD was founded by Joe Tom Nyama, a software engineer and financial analyst who ran a financial institution in Africa that was subsequently sold to FCA regulated entity. He was Head of Africa at Zenfinex until deciding to launch his KYC firm, Africa Due Diligence.
According to the announcement, since launching just four weeks ago, over 1000 African nationals have already been verified.
Now, also leveraging the expertise from Muinmos, ADD plans to increase investor approval rates in the region by deploying Muinmos’ automated verification technology.
According to ADD, 65% more clients can be credibly verified under its system compared to market standards in Africa. The ADD platform can also be used to assist businesses who want verification of potential African employees.
Muinmos is used to verify investors, perform automated KYC, with checks including PEP & Sanctions, Adverse Media, eKYC, digital identity document verification, liveness and ongoing monitoring. The KYC platform screens against over 1,400 databases to combat financial fraud and ensure continuous regulatory monitoring.
ADD’s independent network of verifiers – who are all experts in legal, financial, or operational vetting – verify African institutions to confirm business registrations, legal standing, financial health, and overall reputation.
“Businesses and investors struggle with fulfilling KYC requirements in Africa”
Joe Tom Nyama, Founder & CEO: “Businesses and investors struggle with fulfilling KYC requirements in Africa, which differ country to country, institution to institution, as well as with regulators. Our mission is to transform due diligence in Africa, fostering safer and more trusted international business transactions and driving market participation across the continent. Our partnership with Muinmos brings significant credibility to our business, providing us with the ability to deliver an elite customer experience and uncompromising compliance. Muinmos has helped us to create solid foundations for ADD, leveraging their impressive KYC solution, their reliable technology and strong credentials in data security. Together, we have created an environment where users can conduct self-verification checks which meet the requirements in different jurisdictions. Users can share their KYC token with financial institutions, and financial institutions can partner with us for enhanced due diligence to get more clients approved in Africa.”
Remonda Kirketerp-Møller, Founder & CEO, at Muinmos: “Africa is a hugely untapped market for brokers and other financial institutions, and KYC is one of the first areas that needs to be addressed in order to open up opportunities for them. It is a real challenge to get clients onboarded in the region, often due to verifying addresses or because individuals don’t have passports for proof of identity. ADD solves this by providing a frame of trust which allows both investors and financial institutions to safely interact. We are very excited to support ADD and to drive growth in Africa.”
