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The Singapore-based FinTech startup It is said that October 27, in a statement, is rolling out its infrastructure platform in Africa, where domestic economic growth and customer spending are picking up despite the shaky global economy.
The office in Africa will be led by Dana Nino, the newly appointed Senior Vice President for Growth and Partnerships. She will be assisted by Kenyan Clara Wanjiku Odero, Vice President, Partnership and Growth, Middle East and Africa.
Consumer spending in Africa is projected to reach $ 2.1 trillion by 2025, in part due to the region’s strong foundation: a growing youth population, rising incomes and digital adoption. Mobile payments are also on track to grow five times faster than in any other region and are seen as a key component of economic growth this year.
Prajit Nanu, co-founder and CEO of Thusis, said the company’s expansion into Africa “is an important milestone for us” as it aims for new partnerships and international growth.
He added that Dana Nino brings extensive experience “in all aspects of the payments ecosystem”, including cross-border, FX, B2B, B2C, P2P and C2B strategies. Clara Wanjiku Odero will be instrumental in helping build channel partnerships of initiates.
“In a short span of five years, Chimica has established itself as a respected leader in Fintech innovation globally and I am thrilled to work with such a talented and motivated team to accelerate the delivery of innovative and scalable solutions, pushing new boundaries in area of cross-border payments, “said Nino.
Magazines recently formed new partnerships in Latin America and appointed Ayoub Jemail as the new general manager in the Middle East.
“During a global pandemic in just three months, we expanded our presence to new regions such as Latin America, the Middle East and Africa. This is a testament to how far we have grown as a company and is truly an expression of trust and confidence in our vision and the global market opportunity that awaits us, ”said Nanu.
The company Middle East The expansion was announced earlier this month, where FinTech adoption has been on an upward trajectory. It is expected to grow by 30% by the end of the year.
Even recently collaborated with Aptiv8 to facilitate remittances and payments to the many foreign workers in Singapore. It is estimated that around 20% of the population is made up of migrant workers, with many seeking higher wages to support their families at home.
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NEW PYMNTS DATA: HOW WE BUY – SEPTEMBER 2020
The How We Shop report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research is based on a series of studies conducted since March, which examined over 16,000 consumers on how their shopping habits and payment preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their growing appetite for online commerce and touchless digital methods, such as QR codes, contactless cards, and digital wallets, is poised to shape the post-pandemic economy.
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