Africa-focused fintech Zazuu raises $2M to scale its cross-border payment marketplace

The remittance inflows to sub-Saharan Africa over the past decade have been on an upward trajectory since 2020; last year, it increased by more than 6% to $45 billion. However, the steady rise of remittance inflows to the region hasn’t made this activity cheaper. According to the World Bank, sub-Saharan Africa remains the most expensive region to send and receive money; sending $200 costs an average of 8% in fees compared to a global average of about 6%. 
Analysts from the World Bank’s Remittance Prices Worldwide say a factor that affects these rates is transparency among remittance providers.

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