NALA, TANZANIAN COMPANY FOUNDED BY BENJI FERNANDES, SECURES $40 MILLION INVESTMENT.

Dar es Salaam, Tanzania. Tanzanian money transfer company NALA, founded by Benji Fernandes, has secured a $40 million investment, equivalent to TZS 100 billion. This investment comes as the company continues to excel in facilitating financial transactions across Africa.

This recent success follows a $10 million (TZS 23 billion) investment received in January 2022, demonstrating significant growth within just two years.

Speaking about these achievements, NALA's CEO, Benji Fernandes, stated, "Our work is far from over," highlighting the various challenges people face when sending money to Africa. He pointed out the lack of communication and integration among numerous companies and banks as a major hurdle.

NALA continues to enhance its services to make money transfers within Africa and globally more accessible and affordable for its customers. This new investment is expected to help the company expand its services and address the challenges facing the financial services sector in Africa.