Colombian fintech pioneer Minka is embarking on a bold expansion into Eastern and Southern Africa, underscoring its commitment to revolutionizing payments infrastructure across the Global South. Led by CEO Domagoj Rozic, Minka aims to address challenges such as low financial inclusion and outdated payment systems prevalent in the region. Rozic emphasized, “Our mission is to create efficient, interoperable payment solutions that benefit society, building on our success in Latin America.”
Founded in Bogota in 2016, Minka garnered attention with its cloud-based programmable payment solution, securing $24M in a 2022 Series A funding round backed by investors like Tiger Global Management and Kaszec Ventures. Now, the fintech plans to replicate its model, which integrates banks, fintechs, and clearing houses through connected ledgers, in Kenya, Tanzania, Ethiopia, Malawi, Zambia, Burundi, Uganda, and Mozambique.
Alexander Perko, Minka’s Growth Lead, expressed excitement about extending their impact to Africa. “We’re eager to introduce our approach, which facilitates rapid development and connection of payment systems, bridging gaps between financial institutions,” Perko noted. This move aligns with Minka’s strategy to capitalize on Africa’s vibrant fintech landscape and demographic similarities with its home market.
Minka’s expansion strategy focuses initially on Eastern and Southern Africa, leveraging lessons learned from its successful operations in Latin America. The fintech’s innovative platform promises to streamline financial transactions, enabling institutions to deploy and interconnect payment systems swiftly—transforming timelines from years to mere days.
With plans to introduce their proven solutions across diverse African markets, Minka anticipates fostering greater financial inclusivity and efficiency. The company’s initiative underscores its role in advancing digital transformation across regions and reinforcing partnerships with local stakeholders to drive meaningful economic impact.
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