cross-border money transfers | CEO Business Africa | Inspiring Sustainable Business in Africa

Fintech Ukheshe Technologies announces boostXB joint venture with ForexPeople

July 1, 2021July 1, 2021 Frank

SOUTH AFRICA – Fintech Ukheshe Technologies has partnered with ForexPeople, one of the country’s names in forex with over 20 years of experience, to seamlessly facilitate cross-border payments from South Africa into Africa. The service will extend from South Africa to more than 40 countries across Africa, including Africa’s largest economies and the joint venture comes at a time when the demand for online money transfers is at its highest due to the Covid-19 pandemic and consumers become more comfortable with digital-first payment solutions. Over US$48 billion are remitted throughout…

Kenya’s Housing Finance joins international money transfer business

February 20, 2021February 20, 2021 Frank

KENYA – Housing Finance Company of Kenya (HF) has partnered with digital payments firm Interswitch Group to offer International Money Transfer (IMT) as part of expansions of its digital banking services. With the IMT, the lender’s diaspora customers can remit funds into any HF account and also allows a simplified channel for them to make their loan or mortgage payments. The partnership comes on the back of HF’s turnaround strategy that is set to see the Kenya’s premier mortgage lender transform into a full-service bank. HF Group Chief Executive Officer Robert Kibaara said…

Eversend secures US$1m investment from equity crowdfunding on Seedrs

July 11, 2020August 31, 2020 Frank

Eversend launched its Seedrs campaign targeting a raise of EUR550,000 (US$613,000) in return for 7.67 per cent equity but ended up raising substantially more. In the end, the startup raised EUR897,000 (US$1.015 million), valuing the business at EUR6.6 million (US$7.4m). Founded in 2017, Eversend also provides multi-currency wallets and currency exchange that allows one to exchange, spend and send money at the best possible rates. It plans to offer personal loans, savings, group savings, merchant payments and investments in the future. Available on Android and iOS, the startup has over…