• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macros
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macros
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
Nairametrics
No Result
View All Result
Home Sectors
Multiple currencies hindering commerce among African countries—Lazerpay CEO, Njoku Emmanuel

Multiple currencies hindering commerce among African countries—Lazerpay CEO, Njoku Emmanuel

Samson Akintaro by Samson Akintaro
1 year ago
in Sectors, Tech News
Share on FacebookShare on TwitterShare on Linkedin

The Chief Executive Officer of Lazerpay, a cross-border payment company, Mr. Emmanuel Njoku, has said the multiplicity of currencies across African countries is hindering the growth of commerce across the continent. According to the World Bank, there are approximately 41 currencies serving Africa’s 54 countries.

Njoku said this fragmentation has over time made moving money across borders difficult, effectively preventing businesses from expanding their reach. He noted that businesses in Africa are constrained by the difficulty in accepting payments from their customers abroad because it takes about 3 – 5 days for the funds to settle in local bank accounts, while sometimes, it can even take up to 4 weeks.

What the Lazerpay CEO is saying

Speaking in an interview with Nairametrics, Njoku said: “Africa is forecast to surpass half a billion e-commerce users by 2025. The continent also leads mobile device web traffic generation, with 69% of its total web traffic consisting of mobile internet users as of 2021 and it is forecast to be an almost exclusively mobile-based market by 2040. Yet, there is still a gap in commerce between countries on the continent largely due to differences in currencies.”

“Africans in the diaspora are constantly looking for cost-effective platforms to send money back home. With most cross-border remittances today, it is difficult to predict settlement times; same-day payments are rare, costs are always higher and transparency around these costs is often non-existence.

“This is why we created a blockchain-powered solution to enable businesses to accept payments from anywhere in the world using stablecoins. Our API-centric solution allows developers to integrate crypto payments into their platforms easily. In addition to our APIs and SDK offerings for white-label and checkout integration, we also offer no-code solutions like payment links, QR codes, and payment buttons.

“We’ve also made it easy for e-commerce merchants to accept payments in crypto on their WordPress-based platforms using our WordPress plugins. Our new Payouts product enables businesses to payout their stablecoins or local currencies to their crypto wallets, bank accounts, or mobile money accounts in over 150 countries. Merchants can programmatically send instant payouts to their suppliers, or service providers around the world,” he added.


Download Nairametrics App for breaking news and market intelligence.
   
Tags: E-commerceLazerPay
Samson Akintaro

Samson Akintaro

Samson Akintaro is a tech enthusiast and has over a decade experience covering and writing about the tech industry. He is currently the Tech Analyst at Nairametrics.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *







NM newsletters
Glo
Kwakol
Abbey
Zenth Bank
UBA
Mega Millions

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • QorePay Technology Solutions set to launch innovative Fintech solution to revolutionize payments in Nigeria
  • Falcon receives N19.41 billion for 15,000 metric ton LPG storage facility in Rivers   
  • Festive Delights Await: Dive into Xiaomi’s Christmas special for instant gifts and savings!

Follow us on social media:

Recent News

Qorepay

QorePay Technology Solutions set to launch innovative Fintech solution to revolutionize payments in Nigeria

December 5, 2023
Falcon receives N19.41 billion for 15,000 metric ton LPG storage facility in Rivers    

Falcon receives N19.41 billion for 15,000 metric ton LPG storage facility in Rivers   

December 5, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macros
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up
  • Cart

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In