Browsing: NALA

Nala is a cross-border payments company based in Tanzania. Selcom is a Pan African financial and payment services provider, offering a comprehensive range of payment, issuing and acquiring services.

Nala, whose services can be accessed via a customized, easy-to-use mobile application, has seeded its services in seven countries, including the US, UK, Kenya, Uganda, Rwanda, Ghana and Tanzania.

During the press conference, a live demonstration of a money transfer from the UK to a Tanzanian mobile wallet was conducted and became a success in less than a minute.

Benjamin Fernandez, Nala’s founder and Chief Executive Officer, stressed the importance of uprooting tech-savvy local talents to enhance the local fintech landscape as Tanzania lags in fintech take-up.…

The world is much more digitally interconnected, compared to the past three decades, and Tanzania has been busy to get its fair share of interconnectedness.

In 2013, there were about 23 million telecom subscribers in Tanzania, surprisingly at the moment, the number is almost close to double, as Tanzania Communications Regulatory Authority (TCRA), telecoms statistics show, over 43 million subscribers, with an 81 per cent penetration.

It is important to recognize the contribution of the telecoms sector in Tanzania, to the economy and to the promotion of innovative solutions to community problems. Tanzania’s National Bureau of Statistics (NBS) quarterly highlights, show that: information and communications sector recorded a 10.3 per cent growth, compared to 9.6 in the first quarter, thus—the growth is attributed to increasing in airtime used by mobile phone owners, and the expansion of Tanzania’s broadcasting and internet use landscape.

On the side of the context, Bank of …