As a researcher with extensive experience in the African financial landscape, I find this partnership between MANSA and Bitmama highly promising. The challenges faced by payment companies in Africa, especially the issue of pre-funding accounts, are not new to me. I’ve seen firsthand how this lack of innovation can stifle growth and entrepreneurship.
Mansa, a leading decentralized finance (DeFi) platform specializing in cross-border payments and trade financing, has recently formed an alliance with Bitmama. This collaboration aims to enhance payment solutions across Africa, addressing the ongoing challenge that payment firms face when establishing efficient cross-border services on the continent.
Payment companies active across Africa are facing difficulties due to the resource-intensive requirement of pre-funding accounts, leading to a lack of innovation and eventual liquidity crunches. To tackle these issues, Bitmama, a blockchain-based payment service provider operating in over 18 countries, has developed technology for international money transfers. Yet, it encounters liquidity constraints in every nation where it operates, an issue that significantly impacts its overall performance.
With the goal of addressing this issue, MANSA plans to present Bitmama pre-funded accounts in these 18 nations. This action is expected to enhance consumer payment options and stimulate business interactions across African borders.
MANSA Aims to Bridge Liquidity Gap with New Bitmama Collaboration
Mouloukou Sanoh, the CEO and Co-Founder of MANSA, announced that their partnership with Bitmama is one of their significant achievements. This collaboration will offer necessary liquidity to enhance cross-border payment services, aligning with their objective of addressing the liquidity shortage that hinders economic growth and entrepreneurship, particularly in Africa and developing markets.
Last year, MANSA was created with the purpose of bridging the financing gap in developing economies. By offering liquidity solutions, it aims to stimulate growth and facilitate access to funds in these regions. The rapidly expanding company has made significant strides across Africa, collaborating with prominent players in the Decentralized Finance (DeFi) sector who specialize in liquidity.
2017 marked the commencement of my project, Bitmama, operating as a peer-to-peer marketplace specializing in digital currencies. Today, it stands tall among Africa’s safest payment platforms, offering users the opportunity to execute transactions involving cryptocurrencies, trading, and various other activities using virtual cards, all while ensuring maximum security.
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2024-09-10 16:36