Cadana, a salary-on-demand start-up, has partnered with Flutterwave, Africa’s leading payments technology company, to expand its operations in Nigeria, according to Ventures Africa.
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Providing modern payroll platforms that allow employees to access their earned wages whenever and wherever they want means that the company helps businesses delight their employees. Flutterwave has partnered with Cadana to process payments for both employers and employees.
Employees in Africa can become stressed out by unexpected bills, which can cause them to lose focus on their work and put them at risk.
The only alternatives are short-term loans with interest rates of up to 300 per cent and ineffective loan repayment systems. Following employer approval, a platform that provides real-time access to earned wages will be available to over 400 million African workers. Employees who work for companies that use Cadana can access their wages digitally at any time, rather than waiting until the end of the month.
Cadana’s payroll and statutory compliance digitization services in Africa make employee onboarding, offboarding, reporting, and time-tracking all that easier. Cadana’s time tracking solution automatically syncs with payroll to make disbursement easier, making life easier for people management and small businesses alike.
“Our work in Ghana helped us take feedback from businesses and employees and improve our solution,” Cadana CEO and co-founder Albert Owusu-Asare said, “and indeed, all businesses in Nigeria have a large employee base that we can serve with our modern salary-on-demand payroll management platform.” Businesses and human resource managers alike sought a solution that would improve the well-being of their employees, reduce their employees’ money woes on a monthly basis, and give their employees the freedom to do more with their paychecks. One of Ghana’s largest insurance brokers, among other companies like Float, Tendo, and KEK Group, is one of our current partners. We’re delighted that Flutterwave has made it possible for us to expand into any other African country with relative ease.
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“We’re excited to help start-ups like Cadana expand across Africa quickly and easily,” the CEO and founder of Flutterwave said. We applaud Cadana’s efforts to make salary information available in real-time to workers across Africa, and we’re happy to see that they’re succeeding in this on Flutterwave. Our mission is to help small businesses grow, and working with start-ups is an essential part of that. With their expansion into Nigeria, we’re proud to be a part of it all. We’re eager to see how they’re progressing as they help Nigerian employees. ”
A pre-seed round of funding led by 500 Start-ups and Better Tomorrow Ventures has been provided to Cadana since its inception in Ghana in 2021. Companies like Float, Tendo, and KEK Group, one of Ghana’s largest insurance brokers, use Startup’s payroll services available in both Nigeria and Ghana.
Businesses worldwide can now expand their operations in Africa and other emerging markets through Flutterwave’s API-based platform, which allows for cross-border transactions. More than 900,000 businesses, including customers like Uber, Flywire, Booking.com, etc., have used it to process over 200 million transactions worth around $16 billion.