Pesa's IMTO License: Revolutionizing Cross-Border Payments in Africa

Cross-border payments in Africa visualized on a digital map with glowing markers.

Pesa's Groundbreaking Move in Fintech

Pesa, a prominent Nigerian fintech startup, has taken a significant step by acquiring an IMTO license from the Central Bank of Nigeria (CBN), allowing it to facilitate cross-border payments. Launched in 2021 by Tolu Osho, the company is committed to transforming how people send money across borders, making transactions user-friendly and affordable.

How Pesa Is Disrupting the Remittance Market

The remittance industry is on the rise, with global transfers projected to hit $913 billion by 2025. Amidst this growth, Pesa has carved out a niche by adopting a fee-free model and focusing on customer satisfaction. Its vision is clear: to allow anyone, anywhere, to send money as easily as sending a text message, eliminating unfair exchange rates and hidden charges.

Building Trust Through Compliance

Pesa's recent acquisition of the IMTO license underscores its commitment to regulatory compliance, including implementing robust anti-money laundering and counter-terrorism financing measures. This focus is crucial in a landscape where trust and security are paramount for users. By aligning with international compliance standards, Pesa positions itself to attract customers who prioritize security in digital transactions.

The Company's Inspiring Origin Story

Born from frustration with existing money transfer methods, Osho's journey resonates with many in Africa, where banking access can be a challenge. After struggling to send money to support his brother studying abroad, the seed for Pesa was planted. Pesa aims to empower users in countries like Nigeria, Ghana, and India by facilitating instant transactions through their multi-currency wallets.

Tolu Osho: A Visionary Leader

Speaking at the Lagos Tech Fest 2025, Osho shared invaluable lessons in sustainability, emphasizing the importance of cost efficiency and early market validation. Pesa, bootstrapped and thriving without venture capital, exemplifies how startups can flourish by focusing on discipline and operational agility.

What This Means for the Future of Fintech in Africa

As Pesa expands its reach with the newly acquired license, it sets a precedent for other African startups aiming to enter the fintech space. Their charge to redefine digital payments directly ties into the larger landscape of digital transformation in Africa. By Championing innovation and compliance, Pesa not only benefits its users but also contributes to the overall growth of the African fintech ecosystem.

In a nutshell, Pesa is not just disrupting the remittance sector; they are paving the way for a future where financial services are universally accessible.

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