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NAIROBI, Kenya July 21 – African payments company, Nala, has setup its headquarters in Nairobi increasing Kenya’s investment in financial infrastructure.
The firm has also partnered with Equity Group to facilitate seamless remittance payouts in the country.
The headquarters will be the company’s first office worldwide, and currently hosts 30 per cent of NALA’s staff.
While NALA operates with a globally remote workforce, operational components like partnerships and customer support will be grounded in the Nairobi Headquarters under the leadership of COO Nicolai Eddy.
“Establishing global headquarters in Nairobi puts NALA in the best position to succeed. Nairobi has become a global hotspot for entrepreneurship and innovation, and provides us access to top quality African talent. We hope to further fuel this ecosystem by providing jobs and facilitating more free flowing capital to Kenya,” said Nicolai.
Despite the litany of options for sending money to Africa from abroad, the continent continues to be the most expensive place to send money.
World Bank estimates average transfer fees to Africa at 9 per cent while the Central Bank of Kenya (CBK) estimates the cost of remittances to Kenya at about seven percent.
While this is below Africa’s average it is well above the ideal target of three percent.
Nala is set to change the paradigm of financial tools for Africans by providing fair and transparent services to empower people with control over their finances.
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