Cadana helps businesses by providing modern payroll platforms that allow employees access to their earned salary on-demand, anytime, anywhere.
The platform targets to benefit over 400 million workers in Africa by offering real-time access to their earned wages.
“We’re excited to be in Nigeria with the help of Flutterwave and as we continue our growth and expansion journey, we hope to continue counting on their help to empower African workers,” said Ameer Shujjah, Co-Founder and CTO.
“We handle the employees’ money issues, allowing them more time and ability to focus on doing more with their time and growing businesses in Africa.”
African employees tend to be in distress caused by unexpected bills distracting them from their day-to-day activities.
The alternatives would be short-term loans which could go up to 300% in interest rates with unsuitable loan-repayment systems.
Companies that use Cadana are able to allow their employees to access their earned wages digitally on-demand, instead of having to wait at the end of the month.
The startup helps People Managers in Africa digitize payroll, statutory compliance, onboarding, offboarding, reports, time-tracking.
By facilitating instant payments for workers, Cadana has the ability to sit at the top of digital wallets and connect users to more value-added services, like saving accounts, investment products, insurance, and more.
The platform first launched in Ghana, where it’s already scaling with customers and onboarding more SMEs to its platform.
Early adopters include one of Ghana’s largest bus transportation companies and an international school with multiple campuses.
According to a report, about 67% of all workers experience some version of financial stress. As a result, business leaders globally are looking for innovative ways to help their workers reduce financial stress.
Giving workers access to their money as they earn it gives them the optionality of having money should there be any emergencies in the middle of the month.