Cellulant partners with NALA to power low-cost cross-border payments
NALA , a Tanzania based FinTech , has teamed up with Cellulant , a pan-African payments company , to power remittance payments from the United Kingdom and United States into Kenya , Uganda , Rwanda , Tanzania and Ghana .
Besides Official Direct Assistance ( ODA ), remittances make up the second-largest source of external resources for Sub-Saharan Africa .
The partnership between Cellulant and NALA aims to facilitate seamless cross-border payments and significantly reduce the cost of sending money from the UK and the US into Africa .
“ Today , Sub-Saharan Africa is the most expensive region to transfer money into ,” said Nicolai Eddy , Chief Operating Officer , NALA . “ In Tanzania and across the African continent , there is a huge opportunity to harness technology to reduce payment fees and build next-generation payment and banking products . At NALA , we ’ ve built a completely digital platform for individuals and businesses based in the UK and US to send money to their friends , family , and employees in Africa . Cellulant is one of the early payment pioneers on the continent , and we chose to partner with them because of their deep expertise in the space and their strong technical capabilities .”
DP World launches e-commerce platform DUBUY . com in Tanzania
DP World recently announced the launch of its wholesale e-commerce platform DUBUY . com in Tanzania . The online marketplace will give Tanzanian businesses better access to international markets . It will also provide a more secure and reliable supply chain , through DP World ’ s worldwide ports and logistics network .
The latest expansion of DUBUY . com follows launches in Kenya and Rwanda last year , which created an online business community of more than 1500 active merchants . The new platform enables Tanzanian businesses to sell wholesale products across a variety of categories both domestically and abroad .
Mahmood Al Bastaki , Chief Operating Officer , Dubai Trade World , said : “ Dubuy . com presents an opportunity for homegrown businesses to transform into international enterprises by providing access to new markets in Africa , the Middle East and the rest of the world . We are thrilled to continue our expansion into East Africa with our launch in Tanzania , a key strategic market given its rapidly growing economy and under-served e-commerce marketplace .”
Paul Koyi , President , Tanzania Chambers of Commerce , said : “ Tanzania ’ s Development Vision for 2025 is to have a strong , diversified , resilient and competitive economy . We know that exciting opportunities such as those provided by our strategic partnerships with DP World and DUBUY . com will help us drive this vision forward .”
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