Sylvia Duruson
Klasha, a prominent global cross-border payments company, has released a comprehensive whitepaper exploring the future of payments between Africa and China. The report, titled “Unlocking opportunities: The future of cross-border payments between Africa and China,” delves into key trends, emerging opportunities, and innovative solutions shaping this dynamic sector.
China’s role as a major trading partner for Africa is significant, accounting for 22% of the continent’s cross-border trade. As economic ties between the two regions strengthen, the demand for efficient, secure, and cost-effective cross-border payment solutions continues to grow. This whitepaper aims to provide valuable insights for businesses, financial institutions, policymakers, and stakeholders looking to capitalize on the expanding trade and investment flows.
The document covers several crucial aspects of cross-border payments. It examines the current state of payment systems, exploring existing frameworks and mechanisms driving trade between China and Africa. The whitepaper also investigates influencing factors, including regulatory environments and economic policies that shape these transactions.
Technological advancements play a central role in the report. It explores how cutting-edge technologies are revolutionizing transactions and accelerating cross-border payments. Additionally, the whitepaper offers future trends and predictions, providing readers with insights to stay ahead in the evolving China-Africa trade landscape.
Jess Anuna, CEO of Klasha, highlighted the complexities involved in transferring money or accepting payments between China and Africa. She noted that these challenges often become apparent only when building solutions and untangling the value chain. Despite these obstacles, trade between China and Africa has seen significant growth, reaching $257.67 billion in 2022 and $282.1 billion in 2023.
Anuna emphasized Klasha’s role in developing frictionless solutions to facilitate Chinese businesses’ access to African customers and vice versa. The company’s efforts aim to streamline cross-border transactions and support the growing economic relationship between the two regions.
Klasha, founded in 2021 by Jess Anuna, has positioned itself as a global technology company building a platform and APIs to move money to and from emerging markets seamlessly. The company’s services allow businesses to collect, send money, and hold exotic and hard currencies through an extensive API stack. Klasha’s infrastructure powers cross-border payments for enterprise businesses, handling over 120 currencies and aiming to save merchants time and money.
The whitepaper’s release underscores Klasha’s commitment to fostering understanding and innovation in the cross-border payments sector. By providing in-depth analysis and insights, the company aims to contribute to the ongoing dialogue about the future of financial transactions between Africa and China.
As trade relations between Africa and China continue to evolve, the importance of efficient cross-border payment systems becomes increasingly apparent. This whitepaper serves as a valuable resource for stakeholders looking to navigate the complexities of international transactions and capitalize on emerging opportunities in this dynamic market.
The whitepaper is now available for download, offering readers a comprehensive look at the current state and future prospects of cross-border payments between Africa and China. This resource promises to be an essential tool for anyone involved in or interested in the growing economic ties between these two regions.
