Klasha, a Fintech company building borderless payments for e-commerce in Africa has announced its expansion into Ghana. This launch represents Klasha’s first expansion into other African countries since launching its operation in Nigeria in the second quarter.
Klasha’s solution helps merchants worldwide sell online to Africa and receive payments in local African currencies while enjoying superfast last-mile delivery to consumers across the continent.
The fintech recently raised $2.4m in seed funding to build technology infrastructure for cross-border commerce in Africa and their launch in Ghana is a step in that direction.
Speaking on the launch of its Ghanaian operations, the CEO of Klasha, Jess Anuna said the presence of the startup in Ghana will provide convenience and ease for global merchants especially in payments and delivery.
Klasha CEO, Jess Anuna
“Before now, international online and offline businesses faced the challenge of accepting online payments from Africa and even delivering items to Ghana. Our solution will simplify the process, removing payment and last-mile delivery barriers, making it easier and faster for retailers to collect online payments in Ghana, manage payouts and expand seamlessly.”Jess Anuna, CEO of Klasha,
e-Commerce in Ghana
Ecommerce in Ghana is both growing and changing. While its development was held back for some time by relatively low internet and banking penetration, as well as difficulties in delivery caused by unclear addresses and informal housing, it is finally starting to take off.
Ghana’s e-commerce economy is currently valued at $429 million and is expected to rise to $811 million by 2024. With this launch, therefore, Klasha says it is opening Ghana up to seamless international e-commerce and enabling seamless business extension into the region for global merchants.
There are a few international sites that are popular in Ghana. These include Amazon.com, Aliexpress.com, Alibaba.com, etc. Many of these sites are doing a great job of tailoring their international e-commerce websites to local users.
Not only does Amazon ship to Ghana, it also customizes all its prices and shipping costs in Ghana Cedis as well. The international online vendor even estimates import fees you might incur.
The downside to these sites is that making international payments online is very problematic. And more often than not, local bank debit cards do not work and are marked with restrictions. Also, delivery time is usually prolonged, along with high import rates.
With Klasha, Ghanaian consumers who find making international online payments challenging can now buy from global retailers online in their local currency (Ghana cedis) using multiple payment options such as debit cards, bank transfers, and mobile money. Items purchased are shipped quickly and arrive at customers’ doorsteps within 10 days.
Offerings and future expansion
The Klasha mobile app is now available in Ghana with added functionalities including instant transfers of money between Ghana and Nigeria. There is also a multi-currency wallet, giving users the option to hold, exchange and send money in different currencies at the best rate for free.
Klasha still has further plans for expansion as shared by its Marketing Manager.
“We are excited to bring our innovative payment and commerce solutions to power Ghana’s e-commerce growth. In the coming months, we will expand to more countries to facilitate seamless e-commerce and cross-border payments.”Edidiong Ekong, Marketing Manager of Klasha.