Case studies

    May 2, 2024

    Klasha makes it easy for Bamboo to pay African investors

    Bamboo is an investment platform that gives Africans easy and affordable access to the U.S. stock market and other dollar-denominated investments, particularly in emerging markets. Its core functions and mission revolve around democratising financial investment opportunities and providing financial literacy to African users.

    The challenge

    Bamboo's primary challenge was navigating USD transfers to domiciliary accounts in Africa. This specific issue meant dealing with the complexities of the regulatory environment across different African countries, each with its unique rules and constraints on foreign currency transactions. 

    This made it difficult for their users to receive USD for investment proceeds, especially in countries with strict foreign exchange controls, thus limiting their ability to receive funds in their domiciliary accounts.

    The Klasha solution

    Bamboo partnered with Klasha to facilitate cross-border payments. With Klasha, Bamboo has a dedicated business account and dashboard to payout USD to African investors in African domiciliary accounts. 

    "By using Klasha Payout and Wire, we have streamlined USD transfers to domiciliary accounts in Africa and improved the investment experience of our users with a more efficient approach.” - Oladoyin Olaitan, Settlement Associate.

    The result

    By leveraging Klasha's solutions, Bamboo has optimized cross-border payments to Africa and enhanced the efficiency of USD transfers to African domiciliary accounts, thereby improving the investment experience for their users. Using African currencies, Bamboo now powers cross-border payments with Klasha Wire to different countries.

    Using African currencies and money methods, Klasha Wire helps businesses wire money overseas to their partners and suppliers in China, the USA, the UK, Turkey, and over 120 other countries. The recipients receive the equivalent payout in hard currencies like USD, CNY, EUR, GBP, INR, and other G7 currencies in T+1-3. With Klasha Payouts, companies can easily disburse funds to their African customers in Africa.

    Book a meeting with our sales team to learn more about Klasha Wire or any of our Klasha Business account features that make cross-border payments in Africa more seamless.