NAIROBI, Kenya – Kenyans living in the diaspora have a reason to smile after Pesalink, NALA, and Equity Bank joined forces to improve the speed, dependability, and accessibility of transferring money home.
Through this partnership, Equity Bank’s wide network, NALA’s worldwide fintech platform, and Pesalink’s fast payment technology are combined to increase the effectiveness and affordability of cross-border last-mile transfers.
In 2024, diaspora inflows to Kenya hit a record US$4.94 billion (Sh637.3 billion), an increase of around 18% over 2023.
One of Kenya’s main sources of foreign exchange these days is remittances. By lowering delivery costs and speeds for both senders and recipients, this collaboration aims to address those flows.
Speaking on behalf of Equity Bank Kenya Managing Director Moses Nyabanda, the Group Head of International Banking and Payments, Samuel Ireri, said the partnership is more than a technical integration.
“This is a strategic move that aligns with Equity Group’s Africa Recovery and Resilience Plan to drive inclusive economic growth across the continent. By combining NALA’s user-friendly platform with ’s real-time capabilities and Equity’s settlement infrastructure, we are digitising remittance flows and expanding access to underserved communities,” said Ireri.
Why the partnership is critical to all parties involved
News Nine has established that the partnership enables NALA route transfers through Pesalink’s instant payment network, eliminating intermediaries and long waits from the remittance journey. Pesalink supports instant account-to-account transfers up to Sh999,999 per transaction across 80+ participants, including banks, SACCOs, telcos and fintechs.
“Removing friction from cross-border payments drives inclusion and reliability for millions of Kenyans,” said Kenn Lisudza, Chief Products Officer, IPSL. “Through this partnership, Equity Bank’s enabling role, Pesalink’s trusted infrastructure and NALA’s global reach will deliver faster, cheaper remittances for households and businesses.”
How Fintechs and remittance firms stand to benefit
For Kenyans living and working in the US, UK, and Europe, News Nine understands that using the NALA app means money can now arrive almost instantly into bank accounts or mobile wallets in Kenya, supporting everyday financial planning for families and businesses alike.
Fintechs and remittance firms also stand to benefit from access to Pesalink’s trusted infrastructure and richer payment data to support reconciliation. Together, these improvements will create a stronger foundation for Kenya’s economy, where faster and more predictable transfers fuel growth for individuals, SMEs, and the wider ecosystem.
“Every year, billions are lost to cross-border payment fees worldwide. At NALA, we believe people deserve better. Money sent home should arrive faster, more reliably, and at a fair cost. That is why our choice of infrastructure partners is essential to reduce fees and make cross-border payments more affordable for everyone,” said Nicolas Eddy, COO, NALA.
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