CRESTHUB
CRESTHUB MAGAZINE
  • NEWS
    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    CBN increases Cash Withdrawals for Individuals and Organizations

    CBN increases Cash Withdrawals for Individuals and Organizations

    GDG Hosts DevFest Jos 2022

    GDG Hosts DevFest Jos 2022

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Amazon Web Services opens office in Lagos, Nigeria

    Amazon Web Services opens office in Lagos, Nigeria

  • FEATURED
    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    More Job Cuts at 54gene as CEO Quits Office

    More Job Cuts at 54gene as CEO Quits Office

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

  • PODCAST
CRESTHUB
  • NEWS
    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    CBN increases Cash Withdrawals for Individuals and Organizations

    CBN increases Cash Withdrawals for Individuals and Organizations

    GDG Hosts DevFest Jos 2022

    GDG Hosts DevFest Jos 2022

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Amazon Web Services opens office in Lagos, Nigeria

    Amazon Web Services opens office in Lagos, Nigeria

  • FEATURED
    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    More Job Cuts at 54gene as CEO Quits Office

    More Job Cuts at 54gene as CEO Quits Office

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result
Home StartUps

Payroll and HR management company, Bento, Breaks into the Ghanaian, Kenyan and Rwandan Markets

by Nuel Umahi
December 8, 2021
in StartUps
Reading Time: 4 mins read
0
Payroll and HR management company, Bento, Breaks into the Ghanaian, Kenyan and Rwandan Markets
Share on FacebookShare on Twitter

Bento – a pan-African digital payroll and HR Management (HRM) platform, has today announced its big break into three new markets, establishing a solid presence in Ghana, Kenya and Rwanda to grow the company’s reach across the continent.

The payroll and HR Management platform which was founded in Nigeria in 2019, sees the market in Africa as a huge untapped opportunity with over 400 million people in the labour force. This however, would give African businesses a shift from the normative form which has remained largely analogue up until now, using spreadsheets and bulk upload on bank portals, bank transfers, cheques, and even cash.

Bento is bringing African payroll and HRM into the digital age and ensuring that different market participants are communicating and leveraging data to help unlock credit solutions.

Bento addresses many of the challenges African businesses face in terms of taxes, salary payments, pensions, etc. Through its cloud-based platform, Bento empowers African businesses and gives them peace of mind by streamlining many of their processes with a single click.

For employees, the platform offers access to third-party services such as credit solutions – which include the ability to pay school fees and rent monthly rather than yearly – unemployment insurance, savings, investments and much more, all at no cost to employers.Having obtained full operating licenses in each market, Bento is building local teams in Ghana, Kenya and Rwanda and will adapt its products for local cultural and financial nuances.

In Nigeria, Bento has stood at the forefront of payroll and HRM, serving over 900 active Nigerian businesses across all sectors, including some of the largest Healthcare and Financial Services companies in the country such as Hygeia and Tangerine Africa, as well as many Combinator-backed firms including Paystack, Kobo360, Branch, Helium Health, and LORI Systems.While solving the missing piece of the B2B payroll and HRM puzzle, Bento is also enabling employees to access credit solutions and other third-party products and services.

Around 95% of African consumers have never had access to formal credit and rely on informal lenders and savings schemes.Per theglobaleconomy.com – The average for 2017 based on 39 countries was 4.47%, approximately, a 4.5% figure in Africa in comparison to the 65% in the US. Bento’s proprietary credit engine was built in partnership with Tarya, Israel’s largest P2P lending firm, ensures the company can offer significantly better rates than traditional retail lenders and disburse within minutes rather than days.

Bento can be accessed by employers through its secure, cloud-based web platform and its mobile app for employees, available on the iOS App Store and Google Play Store.

The company is targeting further rapid growth across the continent and will launch in Egypt, South Africa, Uganda, Tanzania, Angola and Senegal by the end of Q4 in 2022.

Ebun Okubanjo, Co-Founder and CEO at Bento said, “Seeing so many companies using analogue methods to manage their workforce is simultaneously frustrating and exciting for us. Employers don’t have access to locally customised, world-class payroll and HRM tools, and employees can’t easily access third-party services to help make life easier. When you think about it, your salary powers your life, so we’re building the operating system that will have a profound impact on the African continent for generations to come.”

In response, Chidozie David Okonkwo, Co-Founder and COO at Bento said, “We’re starting with payroll and HRM, but moving rapidly towards Salary 2.0, where we redefine the intersection of work and life and transform the way people earn, spend and borrow on the continent. Having successfully established product-market fit in Nigeria, one of the most difficult markets to penetrate in Africa, we’re excited to roll out across the continent and solve the real problems we know millions of employers and employees face on a daily basis.”

Related

Previous Post

Mobility Company, Autochek Africa Launches Car Loans Marketplace to Further Deepen Mobility

Next Post

African Blockchain Lab Has Secured $6 million to Further Improve Digital Asset Adoption in Africa

Next Post
African Blockchain Lab Has Secured $6 million to Further Improve Digital Asset Adoption in Africa

African Blockchain Lab Has Secured $6 million to Further Improve Digital Asset Adoption in Africa

eHealth Africa is Revolutionizing Public Health in Nigeria and Beyond

eHealth Africa is Revolutionizing Public Health in Nigeria and Beyond

No Result
View All Result

CRESTHUB MAGAZINE

Popular Posts

  • The Hub: The Importance of Financial Literacy in Business
  • Airtel gets 5G and 4G Spectrum for $317 million
  • Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology
  • The Hub: The Impact of Technology on Music Experiences
  • 2022: An Adventurous Year for CRESTHUB

Cresthub

Learn, Start and Grow your Business with Innovative Business Solutions at Cresthub.

Company

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

Products

  • Cresthub Magazine
  • Cresthub Podcast
  • Cresthub Insight

Socials

Facebook Twitter Youtube
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

© 2022 Cresthub Media

No Result
View All Result
  • NEWS
  • FEATURED
  • BLOCKCHAIN
  • FINANCE
  • START UPS
  • PODCAST

© 2022 Cresthub Media

Cresthub newsletter
THE WEEKLY ROUND UP

Join our newsletter to get first hand insight in tech and start up happenings in Nigeria and Africa at large.

Enter your email address