South Africa’s Cassava Fintech has expanded its services by launching an enhanced cross-border money transfer service from South Africa to other parts of the continent. Cassava is a specialized Pan-African Fintech company that delivers digital transaction solutions. They develop fintech services including mobile money, mobile micro-insurance, payments, and digital banking.
They provide access to over 200 million mobile money wallets and 100 million bank accounts across Africa which enables payments from South Africa, EU and the UK. The Cassava Group also offers international payment services to all African countries under the brand name Cassava Remit Limited in the UK.
Cassava offers unique services like, Home Wallet and the Breadwinner services which offers customer benefits that are not offered by its competitors. The Home Wallet service allows customers to open and send money from their mobile money wallet in their diverse countries. These funds can be used to perform transactions like, utility bills, grocery purchase for loved ones and school fees payments. It helps customers limit their transaction to their exact budget. The Breadwinner service pays benefits to the customer’s beneficiary in a country if the customer passes away.
See also: TeamApt, Nigerian Fintech Firm Raises 5.5m USD in Series A Round
Darlington Mandivenga, Group CEO for Cassava Fintech International said, “We do things differently and have grown our business by responding quickly to market needs, what we offer is informed by what customers want and we know through research that they want more than just the ability to send and receive money.”
Mutsa Sibanda, COO for Cassava Fintech South Africa said, “We believe that we have an unmatched end to end cross border money transfer service for this massive market.”
He continued, “Our strategy includes pervasive distribution through strong local partnerships both locally and in the receiving markets. In South Africa we have partnered with a leading national retailer with over 1,500 outlets and merchant aggregators who have a combined footprint of more than 160,000 formal and informal outlets that include spaza shops, the combination of market experience, skills, our partnerships and the technology infrastructure we have in South Africa enables us to move swiftly”.