About 100 Singapore companies are present in 40 countries in Africa as at November 2024. Straits Times: Lim Yaohui
SINGAPORE: Driven by a mission to make cross-border trade more efficient, two Singapore-based financial technology (fintech) firms are making bold strides into Africa and are set to benefit as the continent’s digital payments infrastructure takes shape.
The firms, Liquid Group and Proxtera have been in Africa for some years, expanding from Ghana to Rwanda.
The African continent comprises 54 countries, with a population of 1.4 billion.
Liquid Group, a fintech company specialising in global digital payment solutions, facilitates cross-border trade payments between Asia and Africa through partnerships with banks in Rwanda and Ghana.
The company partners the banks to source for importers and exporters in Rwanda and Ghana, and then helps them by facilitating payments and collections to and from their counterparts in Asia, said Jeremy Tan, the founder and chief executive of Liquid Group. — The Straits Times/ANN
