In a strategic move aimed at enhancing cross-border payment solutions across Africa, MANSA, a prominent decentralized finance (DeFi) platform, has announced a partnership with Bitmama, a blockchain payment company. This collaboration is set to address the challenges faced by payment companies in Africa, specifically the difficulty of maintaining pre-funded accounts in multiple countries due to limited capital, which stifles innovation and creates liquidity gaps.
MANSA, known for its innovative liquidity solutions in emerging markets, will provide Bitmama with the liquidity required to pre-fund accounts in the 18 countries where Bitmama operates. This partnership aims to overcome the financial barriers that have traditionally impeded cross-border payment services and to expand payment capabilities for both consumers and businesses across the continent.
The need for improved cross-border payment systems in Africa has been pressing, as many payment providers struggle with the complexities of managing funds in various countries. The provision of liquidity from MANSA is expected to streamline and enhance the efficiency of cross-border transactions, benefiting entrepreneurs and businesses by bridging the liquidity gap that has long hampered growth and financial inclusion in the region.
Mouloukou Sanoh, CEO and Co-Founder of MANSA, expressed enthusiasm about the partnership: “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 in 2023, MANSA was established to tackle the significant funding gap in emerging markets through innovative liquidity solutions. The platform has quickly expanded its reach, serving key markets in Africa and collaborating with major liquidity providers in the DeFi ecosystem. MANSA’s mission is centered on fostering financial inclusion and supporting growth in regions with historically limited access to financial resources.
Bitmama, which began as a peer-to-peer (P2P) digital currency exchange in 2017, has evolved into one of Africa’s leading and most secure payment platforms. It allows users to send and receive payments, trade cryptocurrencies, and manage digital assets through virtual cards. The platform operates across 18 countries, facilitating cross-border transactions with enhanced security and convenience.
The partnership between MANSA and Bitmama represents a significant advancement in the landscape of cross-border payments, with the potential to transform how transactions are conducted and foster economic growth throughout Africa.