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Tanzanian fintech company NALA has officially entered the Kenyan market, a move made possible through a strategic partnership with Equity Bank and the instant payment utility Pesalink. This collaboration is a direct effort to tap into Kenya’s robust remittance inflows, which reached a record breaking $4.94 billion in 2024.

By teaming up with established local players, NALA has found a way to bypass the lengthy and often complex licensing process typically required by the Central Bank of Kenya (CBK) for foreign entrants. This strategic maneuver allows the company to leverage Pesalink’s instant payment network and the extensive infrastructure of Equity Bank, enabling it to offer faster and more affordable cross-border payment services to its customers.

The partnership is seen as a key step toward driving inclusive economic growth by reducing the friction and high costs historically associated with international money transfers. NALA’s primary markets—including the US, UK, and Europe—are also the main sources of Kenya’s remittances, creating a strong synergy for the new venture.

The success of NALA’s entry into the highly competitive Kenyan market will largely depend on its ability to compete on cost and speed. The landscape is dominated by powerful incumbents like Safaricom’s M-PESA, Kenyan banks and global giants such as Western Union and Money Gram. This partnership, however, provides NALA with a crucial entry point and a strong foundation to build its presence and compete effectively.