Nukkleus Inc. and its subsidiary, DRFQ, have entered into a strategic partnership with TANTEL ISAF GROUP LIMITED to make significant inroads into the burgeoning African Business-to-Business (B2B) payments market. The World Bank estimates the value of this market to be upwards of $1.5 trillion. The collaboration seeks to revolutionize payment infrastructure across the continent, addressing issues of expensive, slow, and unreliable cross-border payments.
The primary objectives of this partnership include enhancing transaction efficiency, reducing costs, improving payment reliability, and overcoming foreign exchange (FX) limitations that have historically hindered seamless financial transactions in the region. Nukkleus envisions an expansion of its services and influence throughout Africa, with a particular focus on driving increased transaction volume for DRFQ.
Emil Assentato, CEO of Nukkleus and an accomplished American race car driver, expressed the company’s commitment to an integrated approach that prioritizes execution speed and privacy. The goal is to catalyze the growth of online transactions and digital wallets, ultimately reducing friction in Africa’s dynamic payments landscape.
Assentato highlighted the pivotal role of this collaboration with TANTEL ISAF GROUP LIMITED, emphasizing its strategic importance in the company’s broader vision for expansion across the African continent. The anticipated result is a substantial increase in transaction volume for DRFQ as Africa’s electronic payment market continues to experience remarkable growth.
As the partnership aims to provide innovative solutions to the challenges faced by businesses engaged in cross-border transactions in Africa, it represents a noteworthy development in the ongoing evolution of the region’s payment ecosystem.
By Delino Gayweh
Serrari Financial Analyst
January 23, 2024
