Songhai Exchange (SHE) is a remittance switching solution built for the African market to make money transfer, cross border Bill payment and Aid agency disbursement seamless across countries, connect organisations together in order to facilitate and reduce the cost of financial instructions across Africa.
SHE is the result of a strategic partnership between CSL Capital UK ( a member of FCMB Group Plc) and FinCode with a core objective of connecting organisations, reducing cost and driving efficiency through agile technology and financial services.
CSL Capital UK Ltd is regulated by the UK’s Financial Conduct Authority as a Pan African broker of Currencies, Equities and Fixed Income instruments, receiving and transmitting hard currency flows from NGO/Aid agencies, Foreign Portfolio Investors and Remittance companies to its local banking partners throughout Africa who convert the flows into local currencies in order to facilitate the transactions that necessitated these flows. CSLFIN, the collaboration of CSL Capital UK Ltd and Fincode ltd.
CSLFIN through SHE offers direct connections between remitters and distribution partners throughout Africa in a single integration exercise, cutting out middleman fees and giving the remitter a direct relationship with the banks, along with this CSLFIN also offers financial institutions the ability to negotiate FX rates and selectively offer credit to remittance companies to provide better services to customers such as instant remittance.
For more information on how SHE empowers Charities and NGOs in the disbursements of funds across countries in Africa, visit our Charities and NGOs page.