Kenya’s fast-growing remittance sector is gaining a new player as Tanzanian fintech company NALA enters the market through a strategic partnership with Equity Bank and Pesalink. This move positions NALA to make cross-border payments faster, more affordable and more inclusive, while avoiding the lengthy process of obtaining a license from the Central Bank of Kenya. For millions of Kenyans who rely on remittances from abroad, the partnership promises to bring greater convenience and efficiency to the way money is sent and received.
Instead of building an entirely new infrastructure, NALA is leveraging the systems of its Kenyan partners. Funds sent through the platform are routed via Pesalink’s instant payment network and then settled by Equity Bank. This ensures that recipients can access their money in real time, whether deposited directly into bank accounts or mobile wallets. The service reduces delays that have often frustrated families and businesses waiting for transfers, offering a seamless experience that reflects the company’s focus on user-friendly financial solutions.
The timing of NALA’s entry is significant. Kenya recorded remittance inflows of $4.94 billion in 2024, according to data from the Central Bank of Kenya, making remittances the country’s second-largest source of foreign exchange. Much of this money comes from the Kenyan diaspora in the United States, the United Kingdom and Europe, markets where NALA has already established a strong presence. By connecting these international corridors to Kenya through Equity Bank and Pesalink, the fintech is aligning itself with one of Africa’s most active financial ecosystems.
The partnership also provides NALA with a way to bypass regulatory hurdles that often slow down foreign entrants. Pesalink, owned by the Kenya Bankers Association, has already built the trust and infrastructure needed to manage instant payments across the country. Equity Bank, one of Kenya’s largest financial institutions, adds stability and reach. Together, the alliance offers NALA a ready-made platform to scale its services without the delays that come with direct licensing. This strategy mirrors the approach taken by other global players such as WorldRemit, which relied on local partnerships to accelerate their entry into Kenya.
Officials from the partner organizations have expressed strong confidence in the collaboration. A representative from Pesalink said the integration would promote inclusion and reliability by reducing friction in cross-border payments. From Equity Bank’s side, the partnership was described as more than just a technical deal but rather a strategic alignment with the bank’s Africa Recovery and Resilience Plan, which seeks to use financial innovation as a tool for inclusive growth.
For NALA, founded in 2017 by entrepreneur Benjamin Fernandes, this marks a bold step into one of East Africa’s most competitive financial markets. Kenya’s remittance sector is already dominated by established players like Safaricom’s M-PESA, global companies such as Western Union and MoneyGram and strong local banks. Breaking into this space will require more than just a presence, it will demand competitive pricing, speed and reliability.
NALA’s leadership is clear on this point. The company’s Chief Operating Officer, Nicolas Eddy, has emphasized that the choice of partners is central to its mission of lowering fees and making cross-border payments more affordable. By working with Equity Bank and Pesalink, NALA gains both credibility and efficiency, giving it a stronger chance of competing against incumbents. The ability to provide real-time transfers, at lower costs, could make NALA particularly attractive to everyday customers sending money to family members back home.
Beyond direct customer benefits, the move has wider implications for Kenya’s economy. Remittances are a vital lifeline for households, funding education, healthcare and small businesses. By making these flows faster and cheaper, NALA’s entry can improve financial inclusion, reduce hidden costs and ensure that more money reaches its intended recipients. In the long run, such innovations support broader economic resilience by strengthening the link between diaspora communities and the domestic economy.
The partnership also reflects the growing maturity of Africa’s fintech ecosystem, where cross-border collaborations are becoming more common. Rather than competing directly with established local systems, foreign fintechs like NALA are increasingly choosing to work with trusted banks and payment utilities. This model not only accelerates market entry but also builds on existing consumer trust, ensuring smoother adoption of new services.
As NALA begins operations in Kenya, its success will depend on its ability to stand out in a crowded field. Yet with remittances continuing to grow and with a strategy built around affordability, speed and partnerships, the company has given itself a strong foundation. For Kenyans abroad and their families at home, this expansion represents more than just another fintech player entering the scene. It signals the possibility of faster, fairer and more inclusive remittance services that can deliver real impact where it matters most.
