Kenyan Money Transfer Startup, Kyanda Opens Office in South Africa
The money transfer app Kyanda, a Kenyan fintech firm that seeks to enable users to complete a variety of transactions at the lowest possible cost, has begun operating in South Africa.
Collins Kathuli launched Kyanda in February 2020, giving consumers the option to pay bills, buy airtime, and send money quickly and cheaply.
Since its founding, the business has handled over three million transactions, and Kathuli told Disrupt Africa that it wants to create a payment ecosystem that benefits both Kenya and all of Africa. Over 24 million South Africans transmit money to each other every day, and over US$10 billion is transferred within the country annually, making it the starting point of global growth.
“We have other markets in our pipeline. This would be achieved best once we establish the market fit for our products, and of course, after we’ve built firm roots in the current locations we’re present,” said Kathuli.
