Connecting the dots in FinTech... European News的动态

NALA, a Tanzania based Fintech company, has teamed up with Kenya’s Cellulant, a Pan-African Payments Company, to oversee and allow remittance payments from the United Kingdom and the United States into Kenya, Uganda, Rwanda, Tanzania and Ghana for customers. Besides Official Direct Assistance (ODA), remittances make up the second-largest source of external resources for Sub-Subsaharan Africa, according to Cellulant. In 2019, approximately $48 billion was remitted in Africa, with Nigeria receiving roughly 50% of this amount, followed by Ghana and Kenya. Despite a decline in remittance inflows in sub-Saharan Africa in 2020 due to the Covid-19 Pandemic, countries such as Kenya and Ghana experienced an increase in cross-border payments. Remittance inflows into Sub-Saharan picked up again and grew roughly by 6% in 2021. Transaction fees absorb a large percentage of the billions sent to Africa every year. The cost of sending money into Africa is the highest across all regions. Tanzania and Kenya remain the highest with charges at 17% and 21% respectively for every $200 sent. Read the full ITNewsAfrica.com article through the link in the comments below. ?? #fintech #fintechnews #payments #digitalpayments #paytech #onlinepayments #paymentservices #paymentprovider #remittances #crossborderpayments #financialtechnology #financialservices