Can Africa have one financial platform?
Well, the answer to this question is not an easy one. With all progressive cutting-edge technology we have around, sending money across Africa is expensive, difficult and in some cases, impossible depending on the countries you choose to send and receive money from.
There has been a recent growth in innovative fintech platforms and services utilizing new ways to bridge the gaps in the financial network in Africa. One of such fintech platforms is “Waya” or “Waya Money” as it is sometimes called.
Waya is an African-based fintech company founded by Africans, built by Africans from over four different countries with an aim of making money transfers and payments simpler and easier.
Waya allows a person to exchange money from one part of Africa to the other through the best possible cost-effective route that guarantees instant transfers and payments without the need of an intermediary major currency like the dollar. Dealing with regulations from several central banks is a huge task as the rules are different from country to country. They work with various trusted partners including other fintechs, banks, payment processors, KYC vendors and telcos to ensure secure delivery of funds. Essentially, they do all the hard work behind the scenes so you do not have to.