Replay available
Storspay: A Faster, Cheaper Way to Pay Teams in Africa
Chamber member Storspay is tackling one of the biggest pain points for North American businesses operating in Africa: the cost and complexity of cross-border payments. Traditional bank wires to Africa typically cost 5–7% per transaction and can take days to clear. Storspay brings that down to from 2% all-in, with same-day settlement in local currency — no SWIFT fees, no intermediary banks, no week-long waits. Recipients receive funds directly in their existing bank or mobile-money account. The platform is live in 15 corridors across Africa and Latin America, including Nigeria, Kenya, Ghana, South Africa, Côte d'Ivoire, Senegal, and the broader CFA zone — giving businesses a single dashboard for payroll and supplier payments across the continent. Founder and CEO Dr. Sam Alonge (Techstars NYC, Inc. 500 Founders 2025) will be speaking at Africa Accelerating 2026 in Toronto this October. Submit any questions to [email protected].
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Samuel Alonge
Founder & CEO at Storspay
Samuel is the Founder & CEO of Storspay, a fintech platform that helps U.S. small businesses pay employees, contractors, and suppliers across Africa and Latin America — instantly and affordably, without the cost and delay of international wires. Backed by T...
Garreth Bloor
President at The Canada-Africa Chamber of Business
Garreth Bloor has served as President of the Canada-Africa Chamber of Business since 2019 and is a seasoned consultant. As President of The Canada-Africa Chamber of Business he has led trade and investment engagements across Canada and on the African contin...
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Team at 6ix Inc
Investor webinar replay
Meeting Overview The meeting focused on the challenges of cross-border payments faced by North American businesses, particularly in relation to trade and investment in Africa. Dr. Sam Elonge from StoresPay presented solutions aimed at improving payment efficiency and reducing costs for businesses engaged in international transactions. Key Discussion Points - Introduction by Gareth Flaw, President of the Canada-Africa Chamber of Business. - Overview of cross-border payment challenges for North American businesses. - Presentation by Dr. Sam Elonge on StoresPay's services and differentiation from traditional banks and other fintech solutions. - Discussion of the six types of businesses that can benefit from StoresPay's platform. - Explanation of StoresPay's operational model, including trust-building measures and regulatory compliance. - Pricing structure comparison between traditional banking and StoresPay's services. Decisions Made - No explicit decisions recorded. Action Items & Nex...
Replay transcript excerpt
[Speaker identities could not be resolved; generic labels used] [00:01] Speaker 1: Good morning to everyone across North America [00:04] Speaker 1: and good afternoon to everyone joining us from the African continent. I'm Gareth Flaw, President of the Canada-Africa Chamber of Business, joining you from Toronto this morning following our program in Kenya last week, to which we were delighted to welcome, among other chamber members, StoresPay, who are currently tackling 1 of the biggest challenges we are facing North American businesses, [00:26] Speaker 1: including [00:26] Speaker 1: members, and that's the issue of cross-border payments as we accelerate trade and investment across the African continent. [00:33] Speaker 1: Dr. Sam Elonge, who's with me this morning, is at the forefront, a recognized entrepreneur, helping solve that problem and unleash prosperity through ensuring effective payment mechanisms [00:43] Speaker 1: across various corridors. [00:45] Speaker 1: Sam, I know you come with many, many accolades, recognized for your role as a serial entrepreneur, and we're very privileged to have you both as part of our chamber, but also as a key speaker at the upcoming Africa Accelerating Program taking place in Toronto. It was a pleasure to speak with colleagues of yours in Nairobi last week. And thank you for taking time to share [01:05] Speaker 1: with us today in the broader community, the work you're doing, the solutions, [01:09] Speaker 1: and how members and the wider business community can connect with you in terms of tackling these payment challenges. Without further ado, the pleasure is mine on behalf of the Canada-Africa Chamber of Business, Dr. Sam Olonge, welcome. [01:22] Speaker 2: Thanks a lot, Gareth, and nice to meet everybody who is on the call ...