Digital Nomads: The founder tackling the impossible intra-African payments problem
- Cross-border payments reached $194.8 trillion in 2024, highlighting the growing demand for global money transfers.
- Nnenna Nkata founded Monirates to tackle the difficulties of intra-African payments, which are often complicated by regulations and currency differences.
- Nkata experienced firsthand the challenges of sending money between Ghana and Nigeria, leading to the creation of Monirates.
The development of a robust payment infrastructure like Monirates is crucial for enhancing intra-African trade. However, the challenges posed by regulatory fragmentation and currency diversity must be addressed comprehensively to ensure sustainable growth in this sector.
