Understand Inopay in 5 minutes

Inopay is the infrastructure connecting investors to licensed SGIs on African stock exchanges. We are neither a broker nor a custodian. This page explains who does what, how money flows, and why your assets always stay with your SGI.

The principle Actors Order flow Portable KYC Instruments Model FAQ
The principle

Neutral infrastructure, not a broker

Three simple rules that shape everything we do — and everything we refuse to do.

1

Non-custodial

We never hold your funds or securities. Money moves directly from your bank to your licensed SGI. Our servers have no vault.

2

SGI-agnostic

No exclusivity. No preferred SGI. You freely choose among our partners licensed by CREPMF, COSUMAF or SEC Ghana. Switching SGI costs you nothing.

3

Portable KYC

Do KYC once, reuse it everywhere. Cryptographically signed with Ed25519, verifiable offline by any SGI in seconds.

The actors

Who does what

Each actor has a distinct, regulated role. Inopay doesn't replace anyone — we connect.

You

The investor

Individual, diaspora member, or African resident who wants to invest on BRVM, BVMAC or GSE.

Role: decide, place orders, track portfolio.
Licensed intermediary

SGI or broker

SGI licensed by CREPMF (BRVM) or COSUMAF (BVMAC), or LDM broker licensed by SEC Ghana (GSE).

Role: receives your order, executes on exchange, holds securities.
Market

BRVM · BVMAC · GSE

Three African exchanges: BRVM (8 UEMOA countries, Abidjan), BVMAC (6 CEMAC countries, Libreville), GSE (Ghana, Accra).

Role: match buy and sell orders, ensure liquidity.
Regulator

CREPMF · COSUMAF · SEC Ghana

Three regulators: CREPMF (UEMOA), COSUMAF (CEMAC), Securities and Exchange Commission (Ghana).

Role: license SGIs, protect investors.
Infrastructure

Inopay (us)

Multi-market digital platform. We connect, we don't broker.

Role: signed KYC, order routing, portfolio tracking, technical rails.
Payments

CinetPay · Paystack

Licensed payment solutions. CinetPay covers UEMOA and CEMAC. Paystack covers Ghana.

Role: move money directly from your bank to the SGI.
Concrete flow

What happens when you place an order

A 5-step journey. No funds ever pass through Inopay, ever. Check the legend below the diagram.

1

You place the order

In the Inopay app, pick an instrument, quantity, and limit.

2

Inopay routes to your SGI

Signed order + KYC attestation sent to your SGI via secure API.

3

Direct payment

You pay via CinetPay or Paystack. Funds go to the SGI, never to us.

4

Execution on exchange

The SGI executes your order on BRVM / BVMAC / GSE. That's their job.

5

T+3 settlement

Securities arrive at the SGI after 3 business days (BRVM standard). You're notified.

MoneyInvestor's bank → CinetPay/Paystack → SGI. Never via Inopay.
OrderInvestor → Inopay → SGI → Exchange. Signed and traced.
KYCDone once on Inopay, Ed25519-signed, verified online by the SGI.
Golden rule

Money never passes through an Inopay account. If Inopay shuts down tomorrow, your funds and securities are at your licensed SGI, intact. That's what we call non-custodial, and it's non-negotiable.

Our innovation

One KYC, a thousand uses

On African markets, every SGI redoes KYC from scratch. Result: 3 to 7 days of waiting, hundreds of dollars per file, and investors who give up.

Inopay mutualizes identity verification. You do it once, we sign it cryptographically, and each SGI can accept it in seconds.

  • Ed25519 tamper-proof signature — verifiable without a server
  • Attestation published on /.well-known/ in JWT format
  • Append-only ledger with SHA-256 chaining for audit
  • SGIs save up to 80% of operational cost
  • Compliant with CREPMF, COSUMAF, SEC Ghana requirements
Ed25519 signed
subjectuser_abc123
levelKYC2
issued_at2026-04-12
expires2029-04-12
issuerinopay.key.1
chain#8fa2…9d41
signature✓ valid
Instruments

What you can buy

All asset classes listed on BRVM, BVMAC and GSE, accessible through your licensed SGI.

Available

Stocks

45+ listed companies (BICICI, SONATEL, Sonasid, MTN Ghana…)

Available

Government bonds

UEMOA, CEMAC, Ghana treasury bills. Yields 4–9%.

Available

Corporate bonds

Private issues from large pan-African groups.

Soon

Funds (OPCVM)

Diversified and thematic funds, in partnership with asset managers.

Business model

Who pays what

No hidden fees. No FX spread. Our revenue is visible.

Investor side

Free account to browse and simulate. To invest for real: either 0.15% Inopay fee per trade, or 50,000 FCFA/month premium (unlimited orders). SGI brokerage fees (typ. 0.8%) are separate and paid directly to the SGI. See pricing →

SGI side

Free integration (shared KYC, order API, sandbox, webhooks). Monthly platform subscription based on active client volume. No transaction take — the SGI keeps 100% of its brokerage. See SGI model →

Frequently asked

We owe you straight answers

If Inopay shuts down tomorrow, do I lose my funds and securities?

No. Your funds and securities are at your licensed SGI, not with us. Our disappearance does not affect your assets: you keep managing your portfolio directly via your SGI, just like before Inopay. We build the rails, not the vaults.

Is Inopay an SGI?

No. Inopay is technical infrastructure. Licensed SGIs (BRVM/BVMAC) and LDM brokers (Ghana) are the only ones executing orders and holding securities. Our role is to modernize the rails that connect them to their clients — not to compete with them.

Can I use Inopay without an SGI?

No. Every order is routed to a licensed SGI or broker. It's a rule of African markets — and we follow it strictly. You choose your partner SGI during onboarding.

How is the portable KYC accepted by regulators?

KYC requirements (identity, PEP, sanctions, source of funds) stay the same. We execute them once at a high standard, then cryptographically sign the file. Each SGI remains responsible for its client onboarding — it verifies the signature, adds its own additional requirements if any (regulatory surcouche), and decides whether to accept. We are working with CREPMF and COSUMAF toward a dedicated mutualized-KYC license.

Does Inopay take a commission from SGIs?

No. SGIs pay a monthly platform subscription. We take no percentage of their transactions and no hidden referral commission. This rule guarantees our neutrality between competing SGIs.

I'm an SGI. How long does integration take?

Roughly 4 to 8 weeks: term sheet, technical review, sandbox integration, then production pilot. We provide API, webhooks, SDK, a test environment, and a dedicated project lead. SGI details →

How does EUR → FCFA FX work?

FCFA is pegged to the euro at a fixed BCEAO rate: 1 EUR = 655.957 XOF/XAF. No spread. For USD or other currency payments, we display the live rate before asking you to confirm — no surprises at debit time.

How long before I receive my securities after a buy?

Settlement follows BRVM standard: T+3 business days after execution. During those 3 days, your order is in "awaiting_settlement" status. You get a notification at every step (payment confirmed, order executed, securities delivered).

Ready to try?

Create your free account to explore. Or test the full investment journey in the sandbox with 10 million virtual FCFA.

Create my account Try the sandbox