Tanzanian Fintech NALA Enters Kenya In Partnership with Equity Bank, Pesalink
Nairobi is the latest stop for Tanzanian fintech, NALA, which is leaning on Equity Bank and Pesalink to speed its entry into Kenya...
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Tanzanian fintech NALA has entered the Kenyan market through partnerships with Equity Bank and Pesalink, aiming to accelerate its presence in one of Africa's most lucrative remittance corridors. This strategic move allows NALA to utilize existing payment infrastructures instead of seeking direct approval from the Central Bank of Kenya (CBK).
- Remittances to Kenya reached a record KSh 640 billion in 2024, making them the country's second-largest source of foreign exchange.
- NALA was founded in 2017 by Benjamin Fernandes and specializes in low-fee transfers, already serving markets in Nigeria, Tanzania, and Ghana.
- NALA’s entry follows a US$40 million Series A funding round last year, led by San Francisco venture firm Acrew Capital.
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Foreign Companies Enter Kenyan Market Amid Local Competition Concerns - September 2025
China’s Helian Fashion Brands (HLA Group) has launched its first fashion retail outlet in Kenya at The Hub Karen in Nairobi, marking its entry into the African market. In another move, Tanzanian fintech NALA has entered the Kenyan market through partnerships with Equity Bank and Pesalink, aiming to accelerate its presence in the remittance corridor. NALA is utilizing existing payment infrastructures instead of seeking direct approval from the Central Bank of Kenya. These foreign entries come as Kenyan manufacturers express significant concern over increasing competition from foreign imports, primarily from Asia, which they warn could undermine local industries. This issue was highlighted at the 8th Kenya International Industrial Expo (KIIE) 2025 in Nairobi.
