NALA has officially expanded into Kenya through a strategic partnership with Equity Bank and payment utility PesaLink. This move aims to capitalize on Kenya’s robust remittance inflows, positioning NALA as a key player in East Africa’s highly competitive payments market.’
The collaboration bypasses the typically lengthy and complex licensing process for foreign entrants by leveraging PesaLink’s instant payment network and Equity Bank’s settlement infrastructure.
Diaspora transfers will now be routed seamlessly, with recipients in Kenya receiving funds in real time to mobile wallets or bank accounts, eliminating the delays that have long frustrated users. “Every year, billions are lost to cross-border payment fees worldwide,” said NALA co-founder and COO Nicolai Eddy. “Our choice of infrastructure partners is essential to reducing fees and making cross-border payments more affordable for everyone.”
Kenya’s reliance on diaspora remittances has surged, with the Central Bank of Kenya (CBK) reporting an 18 percent increase in 2024, reaching a record $4.94 billion—making it the country’s second-largest source of foreign exchange after agricultural exports. The majority of these funds flow from the US, UK, and Europe, markets where NALA has already built a strong presence.
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Kenn Lisudza, product officer at Integrated Payments Service Limited (IPLS), emphasized the partnership’s impact: “Removing friction from cross-border payments drives inclusion and reliability for millions of Kenyans.”
The collaboration, supported by PesaLink—owned by the Kenya Bankers Association through IPLS—and Equity Bank, allows NALA to sidestep the CBK’s protracted licensing process, a tactic reminiscent of global competitors like WorldRemit.
Equity Bank’s group head of international banking and payments, Samuel Ireri, hailed the move as a strategic step toward economic inclusion.
“This is more than a technical integration; it’s a strategic move to drive inclusive economic growth,” he noted. Observers see this as a blueprint for fintech expansion in the region, with further developments expected as NALA solidifies its foothold in Kenya.
