Monrovia – A Liberian-owned mobile transfer App, KanaCash, focused on remittance package for consumers, has been launched in Monrovia.
KanaCash, according to its forbearers, McSwain Forkoh and Spencer Biah is a mobile application innovation that provides the medium for mobile money transactions in a simplest form from America and other western countries and Liberia would be added soon.
KanaCash has met all the requirements to operate in Liberia. It is tailored to the mobile payment needs of sub-Saharan Africa and the diaspora.
Speaking at the launching of the mobile app on Friday, June 18, its Chief Executive Officer, McSwain Forkoh said the new mobile app will provide adequate satisfaction for costumers to transact their businesses.
“It enables you to send fast and quick money once the app is downloaded. We are excited to bring our headquarters to Liberia and no other country,” Forkoh averred.
He said, the new app is also intended to, among other things, give the population more options, access and control as well as convenience in the digital financial space of the country.
Forkoh stressed that they have come to bring more transformation as well as options to the population including the sector, especially as a Liberian-owned company.
He said as an international company, they will expand in one-month time to neighboring Sierra Leone and subsequently in a period of one year to additional 11 African countries.
The young Liberian entrepreneur stated that with the passion and desire they have to help make a positive impact in the sector, the company is currently operating in Kenya but will have its headquarters in Liberia, making the number of African countries two. However, he further noted that KanaCash intends to cover 11 sub-Saharan African countries before the end of 2021.
He further maintained that the company will bring huge employment opportunity to Liberians and that they are looking up to training young Liberians. He named training of potential young Liberians to enable them get fully prepared for the sector as well as extending their corporate social responsibility to primary schools and many others as initiatives they intend to venture into.
“Our global customer service and IT support center will be in Monrovia, Liberia and our target is to ensure that we create more jobs for our own people,” Forkoh said.
Forkoh said KanaCash has one of the outstanding global partners, while their products and services are highly secure, fast, reliable and of best international standards.
Forkoh assured Liberians that KanaCash has reliable security features that detect and prevent cybercrimes or money laundering activities, as such they must take advantage of the opportunities it provides.
He emphasized the need that Liberians begin to support their own Liberian company in a bid to help empower the population by creating more jobs and expanding the economy.
The KanaCash CEO also disclosed plans of decentralizing said innovation to other parts of Liberia.
KanaCash, he indicated, is committed to solving the cross border, financial transaction problem across Sub-Saharan Africa including connecting the African diaspora to seamlessly process money transfers. At the same time, the Chief Technology Officer and Chief Operating Officer of KanaCash Spencer Biah sees the KanaCash as an innovation that defeats the narrative that Liberians cannot work together to run a successful business.
“KanaCash will address some of the money transfer problems being faced by Liberians by directly engaging customers in and out of the country,” Mr. Biah said.
According to him, the new mobile money transfer app looks forward to partner with local businesses in the country as part of its social corporate responsibility. Biah then lauded government through the Central Bank of Liberia for creating the avenue to enable Liberians to participate in their own economy.
For his part, the Executive Chairman of the Liberia Banker Association John S. B. Davies III, said he foresees more opportunities and options to provide mobile transfer services for Liberians, if there are more digital financial avenues in the country. “We are today witnessing another milestone in the digital transformation of our country, and we believe it is an important step in ensuring that digital landscape, inclusive of avenue for cross border transformation is continuously enhance,” Mr. Davies stressed.
“A lot of those criticisms have been debunked, and what we are witnessing is another excellent example that Liberians can rise to higher height.” Davies further maintained that the digital financial investment by these young Liberians, will provide more benefits for Liberians themselves. He commended KanaCash for integrating with Lonestar Cell MTN, but urged executives of the group to take advantage of other options. Meanwhile, Mr. Davies has therefore admonished them to leave the options open, by including other like-minded partners.