“We have built a business that can scale across Africa,” Mwongela says from Nairobi. “Our platform can be adapted to any market.” Ghana and Nigeria are “interesting markets” which have “tremendous growth” potential, he says.
Economies in Africa are moving towards real-time payments and digital currencies as Covid-19 restrictions accelerate demand for alternatives to cash.
Nigeria and Ghana both plan to adopt digital currencies, while South African banks are adopting the Rapid Payments Programme to allow instant interbank payments in 2022.
Mwongela’s target is for the company to become “dominant” in its current markets in the next year, and to enter new markets in either West or Southern Africa in the next three years.
Within five years, Pesapal aims to be present in all of Africa’s major digital economies as it seeks to become the continent’s largest digital-services provider.
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
Already a a subscriber Sign In