Fintech company, Nsano has highlighted the significant potential for growth in cross-border trade within the African continent.
According to the firm, Africa has room to bridge the cross-border trade gap and make maximum gains.
Established in 2013, Nsano has earned a reputation as a reliable payment processor. It has formed partnerships with thousands of organisations, businesses, and governments to expand beyond borders by handling large volumes of digital payments.
The company’s ambitious goal is to process 50% of Africa’s GDP by 2030. It plans to achieve this through seamless and affordable payment options that address the challenges of multi-currency systems, fraud, and data privacy.
Nsano’s Group Chief Operating Officer (COO), Solace Kidisil indicated that there was a huge gap in Africa’s cross-border trade.
But she remains optimistic that this divide can be closed, particularly to harness the anticipated advantages of the African Continental Free Trade Area (AfCFTA).
To boost trade finance, Kidisil advocates for “enabling cross-border payments, mitigating risk through embedded insurance models, enhancing fraud protection, and granting access to comprehensive trade tools” as pivotal roles for technology firms.
