New fintech partnership to strengthen Jamaica-Africa relations

Jamaica-Africa relations are set to receive a boost through a new partnership between Jamaican fintech firm JN Money Services and Kenyan fintech company WapiPay. The collaboration, unveiled at a joint press event, goes beyond a simple commercial arrangement, with officials highlighting its potential to strengthen ties between Jamaica and Africa.

This partnership comes at a crucial time, following the opening of Kenya’s first resident High Commission in Kingston in July. Kenya’s Foreign Ministry sees the mission as an opportunity to expand political dialogue, economic cooperation, trade, investment, and people-to-people relations, with Jamaica serving as an important gateway to the broader CARICOM market.

Kenya’s High Commissioner to Jamaica, Mwenda Karisa, emphasized that the fintech partnership aligns with the mission’s broader strategy of creating practical opportunities for collaboration between the two nations. WapiPay, with a network of over 100 countries, sees Jamaica as a gateway to connect the global south with the global west.

The partnership offers WapiPay the chance to tap into Jamaica’s payment infrastructure and extend its reach across multiple jurisdictions, as the company has already established corridors in Europe and Asia. Co-founder Paul Ndichu noted that WapiPay’s capacity extends beyond traditional remittances, potentially supporting Africans interested in pursuing opportunities in various markets.

The partnership aims to complete its rollout by December 2026, with JN Money serving as the local payout conduit for WapiPay, leveraging its established remittance infrastructure to facilitate transactions for customers in Jamaica. This move is expected to reduce the cost and speed of cross-border payments, with transactions intended to be completed in under 30 seconds at zero cost to the customer.