The Nsano tale: weaving digital payment threads across Africa

By William Selassy ADJADOGO

Nsano, a leading Ghanaian-born Fintech Company has quietly but decisively revolutionized payment systems across Africa. The company currently facilitates the termination of payments across more than fifteen African markets fostering financial inclusion and prosperity for millions of people in the process.

Their impressive journey, which has been unfolding over the past decade, underpins Nsano’s dedication to foster partnerships that encourage economic development and facilitates seamless financial transactions throughout the continent.

Humble beginnings

Nsano traces their origins to humble beginnings in 2013 when it was incorporated as a Value-Added Service (VAS) provider within Ghana’s emerging fintech scene. The company’s portfolio has since extended to include Payment Aggregation, Remittance, Mobile Banking, Escrow Payment and more. Leveraging technological innovation and strategic partnerships, the company has embarked on a transformative journey to extend its reach beyond their shores of birth.

After receiving its licensing approval from the Central Bank of Zambia in 2023, Nsano championed a novel Fintech event in Lusaka that put some of the continent’s respected finance and technology minds in one room. The company’s digital payment footprints have inked through United Kingdom , Benin, Burkina Faso, Cameroon, Cote d’Ivoire, Gabon, Ghana, Guinea, Kenya, Mali, Nigeria, Senegal, Sierra Leone, Tanzania, Togo, Zambia  and other key markets within the continent.

While Nsano’s foray into multiple African markets may not have been heralded by loud media pronouncements, its strategic progression has been evident through a series of organic growth initiatives and collaborative partnerships. By aligning with key local stakeholders, regulators, and financial institutions in expansion markets, Nsano has steadily integrated its payment solutions into diverse financial ecosystems, facilitating cross-border transactions and bolstering financial inclusion across the continent. It was no surprise when the company became the first payment company in Ghana to receive the Enhanced Payment Services Providers license from the Bank of Ghana in 2021.

Key to Nsano’s approach has been its emphasis on forging mutually beneficial alliances with key industry players, including financial institutions, Money Transfer Organizations, Telecommunication operators, and regulatory bodies. These partnerships have facilitated the seamless integration of Nsano’s innovative payment engine dubbed Fusion but have also provided valuable insights into local market dynamics and regulatory frameworks, enabling the company to navigate complex macroenvironments efficiently.

Compliance and Security:
By utilizing game-changing solutions and adhering to the highest standards of security and reliability, Nsano has positioned itself as a trusted partner for organizations and individuals seeking efficient, accessible, and secure payment solutions across Africa.
Testament to their mission to uphold the highest standards in national and international compliance, Nsano operates with industry-leading standards and certifications, including ISO 27 001, PCI / DSS.

The company also maintains a data protection certificate and is committed to maintaining stringent data protection principles. The company adheres to industry standards and directives set out by the Bank of Ghana, as well as the Payment Systems and Services Act 2019 (Act 987) and Anti-Money Laundering Act, 2020 (Act 1044). These certifications and compliance measures validate Nsano’s commitment to security, reliability, and regulatory compliance in its operations.  Additionally, Nsano launched their Anti-Money Laundering platform, Symmetry in 2021 to help fight fraud and money laundering on the continent.

Conclusion
Nsano’s voyage to driving financial empowerment and inclusive economic growth across Africa continues to unfold. Core to its mission, the company aims to make payment for trade services and products among African countries seamless and without friction. Through its strategic partnerships, technological innovation, and unwavering commitment to excellence, Nsano is well on course to shape the future of fintech on the continent, empowering communities, and businesses to thrive in an increasingly interconnected and digital world.

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