In Nigeria, the struggle to access foreign currency at fair rates is an ongoing concern for many individuals and businesses alike. With international transactions, studying abroad, and e-commerce becoming increasingly essential in today’s globalised world, the need for an efficient and reliable currency exchange solution is more pressing than ever.
Chief Executive Officer of RataFX, Joseph Oladokun, in a statement from the company’s head office in Lagos, said, “We seek to revolutionise the way Nigerians interact with foreign currency and alleviate the frustrations they face daily.”
A vast number of Nigerians grapple with the limitations and restrictions of traditional financial services when it comes to exchanging currency. Importers and exporters, international students, freelancers, expats, and immigrants find themselves at the mercy of unfavorable exchange rates and high fees, impacting their businesses and personal finances. The bureaucracy and sluggishness of the existing financial systems further exacerbate the problem, leaving them feeling disempowered and frustrated.
