{"id":115750,"date":"2024-03-29T14:20:44","date_gmt":"2024-03-29T14:20:44","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-selected-as-global-fintech-firm-payangels-gateway-to-east-africa"},"modified":"2024-03-29T15:30:23","modified_gmt":"2024-03-29T15:30:23","slug":"kenya-selected-as-global-fintech-firm-payangels-gateway-to-east-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-selected-as-global-fintech-firm-payangels-gateway-to-east-africa","title":{"rendered":"Kenya selected as global fintech firm PayAngel’s gateway to East Africa"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>PayAngel, a global fintech company, has chosen Kenya as its entry point into the East African region.<\/p>\n

The UK-based firm specializes in cross-border payments and remittances and has established a presence in the US, Canada, Europe, and Australia.<\/p>\n

PayAngel’s Head of Growth and Strategy Joseph Elvis Lamptey Thursday highlighted Kenya’s status as a global technology hub as a key factor in the company’s decision to enter the Kenyan market.<\/p>\n

Lamptey expressed confidence that PayAngel’s entry will significantly boost diaspora remittances, which currently amount to approximately Sh645 billion per year according to the Central Bank of Kenya (CBK).<\/p>\n

\u201cWe are excited to be in Kenya. We are interested in Kenya because it is the hub for technology in Africa, \u201c he said.<\/p>\n

He is in the country for the Forty Under 40 Africa awards, with PayAngel being the headline sponsor.<\/p>\n

One of PayAngel’s distinguishing features, he said, is its focus on security and simplicity.<\/p>\n

It is also free to send funds while using the platform.<\/p>\n

The company is among other things licensed by the United Kingdom’s Financial Conduct Authority, ensuring compliance with international financial regulations.<\/p>\n

\u201cPayAngel is a platform for the people in diaspora and also businesses looking into doing business in Africa and Kenya in particular,\u201d he said.<\/p>\n

The firm’s Growth Manager for East Africa Chebichi Shariffa emphasized that PayAngel’s platform will enable diaspora funds to be used for their intended purpose, addressing concerns about mismanagement or misuse.<\/p>\n

They spoke at a press conference in Nairobi.<\/p>\n

Shariffa highlighted the platform’s benefits for Kenyans living abroad, noting that some are already using PayAngel to pay their staff back home and make direct purchases of goods and services.<\/p>\n

This direct approach, she said, not only streamlines the remittance process but also reduces the risk of funds being mishandled.<\/p>\n

\u201cIf I am sending home a thousand dollars, I should be able to see the return on investment,\u201d she said. \u201c<\/p>\n

There is satisfaction in knowing money sent for a certain purpose was not diverted and indeed was used to address that. It is an exciting time for Kenyans and East Africans.\u201d<\/p>\n

To further expand its services in Kenya, PayAngel is in the process of obtaining a license from the Central Bank of Kenya.<\/p>\n

This license will allow the firm to collaborate with local banks and institutions to provide financial solutions tailored to the needs of Kenyans.<\/p>\n

PayAngel’s entry into the Kenyan market is expected to have a positive impact on the economy.<\/p>\n

\u201cThe company’s innovative approach to diaspora remittances has the potential to transform the way Kenyans living abroad support their families and contribute to the local economy,\u201d she said.<\/p>\n

The company has been in operation for more than a decade.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. PayAngel, a global fintech company, has chosen Kenya as its entry point into the East African region. The UK-based firm specializes in cross-border payments and remittances and has established a presence in the US, Canada, Europe, and Australia. PayAngel’s Head of Growth and Strategy Joseph Elvis Lamptey Thursday highlighted Kenya’s status as […]<\/p>\n","protected":false},"author":84,"featured_media":115748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[6857,7003,544],"class_list":["post-115750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nKenya selected as global fintech firm PayAngel's gateway to East Africa - kenya<\/title>\n<meta name=\"description\" content=\"PayAngel, a global fintech company, has chosen Kenya as its entry point into the East African region. 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