Denis Opudo
BitPesa, a Kenyan based payment, and digital foreign exchange platform has decided to expand its operations in West Africa. The startup which was launched in 2013 in Nairobi Kenya and has now begun operating in Ghana. The platform leverages blockchain settlement hence reducing the cost and increasing the efficiency and speed of making payments in the frontier market.
In 2017, BitPesa received two round funding totaling to $10 million and the funds were to be used for its expansion. Currently, the startup operates in other cities in West Africa and Europe. The cities include Europe, Dakar, Lagos, Madrid, and Luxembourg. According to the official statement from the company, Ghana was an important market since BitPesa operates in Nigeria. BitPesa having set its footprints in Ghana, they intend to reduce the transaction cost from Ghana to important trading partners such as Nigeria.
At the beginning of 2018, BitPesa acquired TransferZero which made it set its footprints across other frontier markets such as Latin America and the Caribbean.
The platform now allows Ghanaians also to buy and sell bitcoins online. Besides, various businesses in Ghana can now send payments to other African states using the platform. BitPesa will avail more services in Ghana although at the moment it is working with only two mobile networks in Ghana.
Moreover, Ghanaians can use over ten currencies for making GHS payments. Some of the currencies include ZAR, NGN, and UGX.
Elizabeth Rossiello, the CEO of BitPesa expressed her delight for having set footprints in Ghana. She said that the main aim of BitPesa going to Ghana is to promote intra-African trade. Besides, she added that BitPesa will now allow Ghanaians to make international payments using their currency. Furthermore, Elizabeth said that BitPesa intends to serve their customers in Ghana with all diligence.
