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Why verifying a business in Africa is harder than moving money
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Why verifying a business in Africa is harder than moving money
The modern African cross-border payment executes in mere seconds. A financial technology platform using the Pan-African Payment and Settlement System (PAPSS) can route $50,000 from a corporate treasury account in Johannesburg to a manufacturing supplier in Lagos almost instantly. Yet, the operational reality behind the scenes of this transaction tells a vastly different, highly frustrating story. While the capital moves at the speed of light, v…
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