Tanzanian fintech company NALA has partnered with Equity Bank and PesaLink in a move set to transform Kenya’s multibillion-shilling remittance sector by making money transfers faster, cheaper and more inclusive.
Remittances remain a critical source of foreign exchange for the country, rivaling exports and foreign direct investment.
According to Central Bank of Kenya (CBK) data, Kenyans abroad have sent home approximately Sh1.695 trillion ($13.5 billion) over the past three years.
In 2024 alone, inflows stood at Sh640.8 billion ($4.94 billion), while as of July 2025, remittances had already reached Sh328.6 billion ($2.52 billion).
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The United States dominates the inflows, accounting for 50 percent of the total, though other regions such as Europe and the Middle East particularly the UK, Germany and the UAE are also playing a significant role.
“This is more than a technical integration, it’s a strategic move to drive inclusive economic growth,” said Samuel Ireri, Head of International Banking and Payment at Equity Bank.
The partnership is expected to boost remittance volumes by leveraging NALA’s extensive diaspora channels to funnel funds through PesaLink in real time. It will also expand Equity’s global reach without the cost of setting up overseas infrastructure, while accelerating financial inclusion by enabling instant deposits into mobile wallets and bank accounts.
In addition, the collaboration allows both parties to bypass regulatory hurdles. NALA sidesteps lengthy licensing processes in Kenya, while Equity benefits from faster innovation and improved service delivery.
