MANSA, a Kenyan-based decentralised finance (DeFi) platform specializing in cross-border payments and trade financing, is poised to significantly enhance cross-border payment accessibility across Africa through a newly formed partnership with Nigerian crypto trading platform Bitmama. 

The partnership is expected to address one of the most pressing challenges faced by payment companies in Africa in establishing cross-border payment services, due to the difficulty of maintaining pre-funded accounts in multiple countries. 

The coalition emphasized that maintaining pre-funded accounts in multiple countries often proves difficult due to limited capital, which in turn stifles innovation and widens the liquidity gap. This is where the partnership with MANSA comes into play.

Bitmama, which operates across 18 countries, has built a platform designed to facilitate cross-border settlements. However, the platform’s effectiveness is contingent upon securing sufficient liquidity in each of these serviced countries.

Through this partnership, MANSA is expected to provide Bitmama with the necessary liquidity to pre-fund accounts across these 18 countries, expanding consumer payment capabilities and supporting business trade across African borders.

“Our collaboration with Bitmama marks a key milestone for MANSA,” said Mouloukou Sanoh, CEO and Co-Founder of MANSA. “By enabling access to liquidity, we’re helping to enhance cross-border payment services, which aligns perfectly with our mission to close the liquidity gap that hampers entrepreneurs and businesses across Africa and other emerging markets.”

With the backing of MANSA’s liquidity solutions, Bitmama could significantly enhance the way businesses and individuals in Africa handle payments and trade.

Launched last year, MANSA was launched to tackle the significant funding gap in emerging markets by leveraging blockchain technology solutions to provide liquidity to multinational exports and cross-border payments for companies in emerging markets. The company has since expanded, serving key markets across Africa and forming alliances with some of the biggest liquidity providers in the DeFi ecosystem.

Bitmama, founded in 2017 as a peer-to-peer digital currency exchange, has since evolved into one of Africa’s notable payment platforms. Operating in 18 countries, including Nigeria, Ghana, and Kenya, Bitmama offers users the ability to transact with virtual cards as well as trade and manage cryptocurrencies and digital assets safely and conveniently.

As both companies continue to innovate and grow, this partnership has the potential to set a new standard for cross-border payments in Africa, driving financial inclusion and economic growth in the region.