Ghanaian startup PAL, founded in January 2020 by Dady Maël and Kader Saka, serves as an e-money payment infrastructure and liquidity provider. It acts as an off-ramp for global enterprises and African businesses looking to innovate cost-effectively in Francophone Africa.
PAL’s services allow African businesses to make cross-border payments to bank accounts and mobile wallets in eight French African nations, exchange various African currencies, including Dollars and Euros, access cash liquidity instantly, and efficiently manage their finances.
International businesses in the UK, US, and Europe can use PAL’s API to transfer funds at a reduced cost to mobile wallets, merchant wallets, and bank accounts in Francophone countries.
Furthermore, PAL enables small businesses in the gig economy to become agents quickly using their POS terminal and USSD point, increasing their revenue and offering financial products from various institutions.
PAL officially launched operations in September 2022 and is already active in Benin, Senegal, Ivory Coast, Nigeria, and Ghana. In its first year, it processed $2.3 million worth of transactions.
The startup addresses challenges in the West Francophone countries, where mobile wallets are popular but face infrastructure access issues. PAL collaborates with telecom providers, enabling cost-effective fund transfers and solving problems related to making payments in various African currencies.
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