From the busy warehouses in Nairobi’s Industrial Area to logistics firms handling cargo through Mombasa Port, access to fast settlement of trades and reduced currency risk can translate to real-time business impact. Verto, a leading global B2B payments platform, which has launched operations in the United Arab Emirates (UAE), is promising to facilitate this, opening up new opportunities for Kenyan and African businesses trading within the Gulf region.
With over $25 billion processed annually for global giants such as Unilever and Maersk, Verto is known for facilitating seamless, high-value transactions across emerging markets. Its expansion into the UAE aims to solve longstanding challenges in cross-border payments, particularly between the UAE and Africa – a key trading corridor that includes Kenya, Nigeria, South Africa, and other key regional economies.
“The UAE is a pivotal hub for global commerce, and businesses here demand solutions as dynamic as their operations,” says Helen Ghebreluul, Verto’s UAE Country Manager. “Our platform is built to handle the high-value, time-sensitive nature of these transactions, particularly in emerging markets in Africa. We are not just a service; we are a critical partner, ensuring that a company’s payments move as fast and reliably as their business.”
For Kenyan importers, exporters, and multinationals with operations in the Gulf, Verto’s platform promises to delive a more efficient, transparent and cost-effective way to move funds across borders, a challenge that has historically hindered business growth and supply chain reliability.
“Businesses are the lifeblood of global supply chains, but they face constant challenges from currency volatility and slow, traditional payment systems,” says Ola Oyetayo, CEO and Co-founder of Verto. “Verto empowers these businesses by giving them the tools to mitigate FX risk, accelerate settlements, and optimize their cash flow. We believe in providing global reach with local strength, leveraging our expertise in key emerging markets to ensure that wherever a company’s goods go, their payments follow instantly and securely.”
Verto’s presence in Dubai is anchored at the Emirates Financial Tower within the DIFC, with the company licensed by the Dubai Financial Services Authority to offer money services and financial advisory. The team continues to grow as it positions itself to serve a wide range of clients engaging in intra-Gulf and Africa trade.
Verto’s offering is particularly relevant for Kenyan businesses that regularly transact with suppliers or clients in the UAE.
- Fast settlement: The platform enables instant or near-instant payments, which is vital for a sector where delayed payments can stall the entire supply chain. Verto’s efficient payment rails allow for settlements in hours rather than days.
- FX risk management: Verto provides competitive and transparent foreign exchange (FX) rates, offering businesses hedging options and flexibility. For instance, companies can lock in favorable rates to protect against currency volatility. The platform also features a multi-currency account to hold money in different wallets and an Auto Exchange feature to automatically execute trades at an ideal rate.
- Transparency and traceability: The platform allows users to track payments from end-to-end, reducing issues where payments are lost in transit. It also eliminates hidden fees and spreads often associated with traditional banking.
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