With Its Borderless E-commerce Payment Solution, Klasha Is Expanding Its Reach Into Ghana
With its borderless e-commerce payment solution, Klasha is expanding its reach into Ghana
With its expansion into Ghana, Klasha, a Fintech startup specializing in developing borderless payments for African e-commerce, has announced its expansion into the country. Since launching in Nigeria in the second quarter of this year, this is Klasha's first foray into other African countries, according to the company.
It is possible for merchants worldwide to sell online to African customers and accept payments in their native currencies, all while providing superfast last-mile delivery to African consumers, thanks to Klasha's solution.
In 2016, the fintech raised $2.4 million in seed funding with the goal of developing technology infrastructure for cross-border commerce in Africa. The company's launch in Ghana is an important step toward that goal.
In an interview with Business Insider, Klasha's CEO, Jess Anuna, stated that the startup's presence in Ghana will provide convenience and ease for global merchants, particularly in terms of payments and delivery.
Ghana's e-commerce industry
Electronic commerce (ecommerce) in Ghana continues to grow and evolve at the same time. After being slowed for a while by low internet and banking penetration, as well as delivery difficulties caused by ambiguous addresses and informal housing, it is now finally gaining traction.
Ghana's e-commerce economy is currently valued at $429 million, with projections indicating that it will grow to $811 million by 2024. The company claims that this launch will open Ghana up to seamless international e-commerce, as well as enabling global merchants to expand their businesses into the region without difficulty.
There are a few popular international destinations in Ghana, including the United Kingdom and the United States. Amazon.com, Aliexpress.com, and Alibaba.com are just a few examples. A large number of these websites are particularly good at customizing their international e-commerce websites for local customers.
Furthermore, Amazon not only ships to Ghana, but it also charges and prices for shipping in Ghana Cedis. An estimate of any import fees that may be incurred is provided by the international online vendor as well.
The disadvantage of these websites is that it is extremely difficult to make international payments online through them. Moreover, debit cards issued by local banks are frequently inoperable or restricted in their use. In addition, delivery times and import costs are frequently delayed or even increased.
Consumption in Ghana's local currency (Ghana cedis) is now available to consumers who have difficulty making international online payments. A variety of payment methods, including debit cards, bank transfers, and mobile money, are now available to Ghanaians shopping online in their local currency (Ghana cedis). Purchased items are shipped out quickly and arrive at customers' doorsteps within ten days of being ordered.
Provisions and the possibility of expansion
With the launch of the Klasha mobile application in Ghana, users will be able to take advantage of new features such as instant money transfers between Ghana and Nigeria. A multi-currency wallet, which is available for free, enables users to store, exchange, and send money in a variety of currencies at the best available exchange rate at any time.
According to Klasha's Marketing Manager, the company has plans to continue expanding its operations. "We are thrilled to be able to contribute to Ghana's e-commerce growth with our innovative payment and commerce solutions," he said. During the next few months, we plan to expand into additional countries in order to facilitate seamless e-commerce and cross-border payments."
