Africa-focused fintech Klasha has acquired a financial services license from regulators in Sierra Leone. This allows Klasha to operate in the country under the central bank’s Regulatory Sandbox Program for innovative startups.
The license underscores Klasha’s commitment to developing cutting-edge cross-border payment and commerce solutions that enhance efficiency, accessibility and security. With the approval, Klasha can now provide its suite of financial services to individuals and businesses in Sierra Leone.
CEO Jessica Anuna expressed excitement about accelerating Klasha’s growth and expanding its presence in the Mano River Union economic bloc through the Sierra Leone market. She noted the country’s vibrant and growing environment makes it an appealing launch pad for Klasha’s seamless cross-border transaction offerings.
The Sierra Leone license represents a key step in Klasha’s broader African expansion strategy. The company aims to leverage its innovative payment solutions to address e-commerce challenges and drive financial inclusion across the continent.
Klasha’s core offering enables frictionless cross-border payments between Africa and the rest of the world. Its payables and receivables platform connects international companies to millions of African consumers.
The startup has raised funding from high-profile backers including American Express, Greycroft and Seedcamp. Its expanding geographic footprint and strong investor support position Klasha to continue disrupting traditional payment channels.
Regulatory sandboxes allow fintech startups to launch and test innovative products in a controlled environment under a regulator’s supervision. The Bank of Sierra Leone’s sandbox program enables experimental deployment of emerging services like Klasha’s before full-scale rollout.
Participation in the sandbox highlights regulators’ confidence in Klasha’s business model and the value its solutions could bring consumers. The controlled launch will provide insights to inform wider deployment across Sierra Leone.