Moving money across African borders has historically been a slow and expensive process. Businesses trying to pay for goods in neighboring countries often have to wait days, or even weeks, for transactions to clear through traditional banks.
To solve this headache, Esca Finance has partnered with MANSA a financial platform backed by Tether (the company behind the world’s largest stablecoin). Together, they are making same-day payment settlements a reality for businesses across Africa.
The Problem with Traditional Cross-Border Payments
For years, African businesses have faced a major roadblock when trading internationally: the reliance on global banking networks like SWIFT.
• The Waiting Game: When a company in Nigeria wants to pay a supplier in Kenya or Ghana, the money often travels through intermediary banks in Europe or the US first. This creates long delays.
• The Liquidity Trap: Because traditional banks take days to move funds, businesses have their money trapped in transit. This makes it incredibly difficult for small and medium enterprises (SMEs) to buy more stock, pay suppliers quickly, and grow.
This new partnership cuts out the slow traditional middleman by using modern digital finance tools.
Esca Finance specializes in helping businesses manage their cross-border payments and treasury operations. By teaming up with MANSA, Esca can now access deep pools of digital liquidity.
Because MANSA is backed by Tether, it utilizes blockchain-based stablecoins (USDT) to move value instantly. Stablecoins are digital currencies pegged to the value of the US dollar, making them stable, secure, and perfect for fast global trade.
How Same-Day Settlement Changes the Game
By combining Esca’s business platform with MANSA’s liquidity pool, African companies get a massive upgrade:
• Instant Speed: Payments that used to take up to a week can now settle on the exact same day.
• Better Cash Flow: Businesses no longer have to wait days to know if a payment went through. They can pay suppliers immediately, receive goods faster, and keep their operations running smoothly.
• Lower Costs: Cutting out multiple middleman banks means fewer transaction fees, saving businesses money on every trade.
“By unlocking same-day settlements, we are giving African businesses the financial oxygen they need to scale without borders,” the companies highlight regarding the partnership.
This partnership comes at a vital time. With initiatives like the African Continental Free Trade Area (AfCFTA) aiming to increase trade across the continent, tools that make moving money easier are desperately needed.
By utilizing Tether-backed technology, Esca Finance and MANSA are building the modern financial highway that Africa needs to connect its economies and empower everyday businesses.
