Pesa is taking its cross-border payments business to Australia

In Q2 2024, the average cost of sending remittances to Sub-Saharan Africa was 8.37% , the highest regional average recorded by the World Bank. Cross-border transfers have also historically involved multiple intermediaries and settlement delays before money reaches its recipient. Over the past decade, fintechs have tried to close some of those gaps, especially for migrants who regularly send money between their country of residence and home.