The Nigerian startup community continues to expand towards West Africa adding more tech infrastructure to the African FinTech community. Cadana set to influence Nigeria’s unprecedented recognition as the commercial zone of Africa with a modern payroll management system paired with remittance.
Cadana shares a schemed and strategized partnership with Flutterwave to accelerate the ongoing expansion campaign in Nigeria. Flutterwave’s high-end remittance company processes payment which depicts an ideal initiative to drive a modern financial management system across the continent.
Cadana manages its clients’ payroll — the startup company is also active with its users’ salaries on demand. Both startups administrate a FinTech network that makes their consortium compactible. For context, the salary on-demand platform is a white-collar initiative suitable for employees (users) to request their salary which will be disbursed via Flutterwave’s payments network.
Cadana’s salary-on-demand network serves as a replica of multi-purpose Human Resource management processed as a digital system. Cadana digitally process payrolls, finance time tracking, offboarding, report, and other complicated Human Resource related solutions.
Cadana CEO, Albert Owusu-Asare, revealed his FinTech network is developed to process users’ salary payments anytime, anywhere — now, Flutterwave will have to process both employees’ and employers’ salaries. Cadana’s transaction history weighs its users’ loan capability whereby notifying possible suggestions in how to manage bills and access loans via statutory compliance mechanism.
“Our work in Ghana helped us take feedback from businesses and employees and improve our solution. People Managers and business owners wanted a solution that could make their employees more comfortable, reduce money troubles month-on-month and empower them to do more with their wages. We currently partner with businesses like Float, Tendo, KEK Group; one of the largest insurance brokers in Ghana, etc. We’re happy that we can easily launch into any other African country with Flutterwave’s help.”
Cadana’s salary on-demand network happens to be broad than it appears in pictures. The Startup payroll management company offers high-interest rates suitable per users’ income stream. Cadana developed an optional payment scheme whereby employees can also choose to receive wages in a short rather than depending on the 30 days salary payment plan
Integrating with Flutterwave was easy and offers us more flexibility than imagined. We’re excited to be in Nigeria with their help and as we continue our growth and expansion journey, we hope to continue counting on their help to empower African workers. Cadana is an ecosystem of solutions built to improve productivity for workers in Africa,” Owusu-Asere said.
“We handle the employees’ money issues, allowing them more time and ability to focus on doing more with their time and growing businesses in Africa.” Both FinTech companies agreed on integrating their autonomous FinTech company. The partnership they share help’s them to strategize a smooth influence on the Nigerian employee base that has outgrown the economy’s standard of financial inclusion. “We have plans to build helpful personal money management solutions on top of our people management platform to make it easier for workers in Africa to create more wealth directly from their wages.”
How will Flutterwave influence Cadana’s strategic compact?
• Flutterwave leads the African FinTech community that processes cross-border payment API gateway. In contrast with Cadana status quo, Flutterwave is a behemoth payment company.
• Flutterwave currently has the required vast number of employees base which roughly sums up to a million businesses remitting cross-border funds via its API portal. The same customer base Cadana intends to serve with a modernized payroll system.
• Flutterwave has reportedly served other behemoth tech companies including, Flywire, Uber, etc.
• Flutterwave has processed over $200M worth of 6transactions, exchangeable to more than hundreds of versatile currencies with active operations in over 30 countries.