In a bid to drive expansion into the Nigerian market, Cadana, a salary on-demand startup, has announced a partnership deal with Flutterwave, a leading player in the African digital payment industry. Founded in 2020 and based in the United States, Cadana first operation in Africa was in Ghana, as the startup provides employees in Africa access to their salary anytime and anywhere. This partnership is helping the startup launch in Africa's biggest economy.
Living in Africa can be thrilling, as the instability in the society can bring about unforeseen circumstances, Cadana presence in Nigeria will cushion the impact of such disruptions that may occur by providing workers with the opportunity to access earned wages. The startup solutions will also provide relief in the managerial experience of companies in the country, for example, timely and easy disbursement of salary on payday. Hence, reducing the chances of delays in payments. Furthermore, integrating Flutterwave into Cabana will help its mission as Africa's most valuable startup can make operations easy through its channel and its thriving presence in Nigeria's ecosystem.
The Nigerian story is rising insecurity, a weakening economy, and violence. Amidst these issues that drive instability, Nigerians can keep hope alive, as Cabana services will build personal financial management amongst workers in the country, thus promoting financial literacy and inclusion. Exploring Africa's largest economy for the startup is undoubtedly a great move as it hopes to create more wealth.
Nigeria in focus:
Population: 206.1 million in 2020 as compared to 201 million in 2019
GDP: $432.3 billion compared to $448.1 billion in 2019
GDP per capita: $2,097 in 2020 compared to $2,229 in 2019