Cross-border payouts to contractors in Africa lose 5–8% to fees and FX
We pay contractors in Nigeria, Ghana and Kenya. Between the wire fee, the intermediary bank, and the exchange-rate spread, they receive noticeably less than invoiced and it's different every month.
- Who has it
- Companies with remote contractors in Africa; the contractors themselves
- How often
- Monthly
- Pain
- Costs me money
- Would pay
- 1% flat would be a win
- Today’s workaround
- Crypto stablecoins, which accounting hates, or fintech apps with low limits.
Who’s building this
Nobody yet. This one’s up for grabs.
I’m building this
Me too
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