Decentralised Finance platform MANSA has partnered with blockchain payment company Bitmama to improve the facility of cross-border payments across Africa.
Through the partnership, MANSA will provide Bitmama with the liquidity to pre-fund accounts across 18 countries, expanding the payment capabilities for consumers and supporting business trade across borders in Africa.
Payment companies across Africa face significant challenges in establishing cross-border payment services, where maintaining pre-funded accounts in multiple countries often poses an obstacle due to limited capital, stifling innovation and creating a liquidity gap.
Bitmama, which enables individuals and businesses in over 18 countries to send and receive payments in various currencies, has built a platform to facilitate cross-border settlements but requires liquidity in each serviced country, which MANSA is now providing.
Mouloukou Sanoh, CEO and Co-Founder of MANSA. “Our collaboration with Bitmama marks a key milestone for MANSA. By providing the liquidity needed to pre-fund accounts, we’re enabling individuals and businesses to benefit from enhanced cross-border payment services.
“This partnership aligns with MANSA’s mission to close the liquidity gap that hampers entrepreneurs and businesses across Africa and other emerging markets.”
Launched last year, MANSA was created to address the significant funding gap in emerging markets, offering liquidity solutions that support growth and foster financial inclusion in these regions.
The company has expanded recently, serving key markets across Africa and working closely with some of the biggest liquidity providers in the DeFi ecosystem.