TranSat Africa is building a satellite-based payments network for banks in the next major emerging market. TranSat Africa enables the banks to provide millions of their existing customers with new banking and payments services via their mobile phones as well as bring the millions of unbanked into the formal financial system.
TranSat Africa was founded by highly experienced entrepreneurs, digital bankers and payments executives. Our team has a proven track-record of taking fintech companies from start-up to IPO and managing the payments division of one of the largest banks in Africa.
Owning a payments network and collecting a per-transaction fee is an extremely profitable business. Moreover, highly valuable and socio-economically beneficial payments networks have been rapidly built in other emerging markets with limited existing infrastructure (e.g. China and India).
Africa has a rapidly growing population (2.5 billion people by 2050), smartphone penetration (720 million by 2020) and consumer and business spending ($6.7 trillion annually by 2030).
Given our unique satellite-based approach, patented mobile payments technology and expertise in banking and payments, TranSat Africa is well-positioned to become the payments network for the next major emerging market.
November 8, 2018: We have just returned from Europe and Africa and are in active discussions with two Africa-based strategic partners and investors (under non-disclosure).
The first helps manage one of the largest pension/sovereign wealth funds in Africa. They have significant banking connections throughout the region and their Managing Director will join TranSat Africa.
The second is one of the largest conglomerates in Africa with political connections at the highest levels and on-the-ground business/technical teams in 10+ countries. This group also has an ownership interest in a Morocco based pan-African bank with a presence in 18 countries. We are scheduling a joint presentation to the bank’s key executives and technologists.
These two strategic partners/investors will enable us to rapidly scale the business and expand our footprint in the African market.