Cedar Blog

Introducing Cedar Money's new WhatsApp Assistant, your go-to for quick answers and expert support. It is here to make your experience smoother than ever!

Now, you can get instant FX rate updates, and answers to your most common questions and concerns directly from your WhatsApp. Our bot is designed to provide personalized assistance, understand your queries, and escalate complex issues to our human support team for prompt resolution.‍

Here's how it works:

1. Send a message: Simply reach out to our WhatsApp bot and ask your question(s).
2. Get instant answers: Our bot will provide you with relevant information and guidance.

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Benefits of Our WhatsApp Bot:

• 24/7 Support: Get instant answers to your questions anytime, anywhere.
• Instant Rate Alerts: Stay updated with real-time exchange rates.
• Personalized Assistance: Our bot understands your needs and provides tailored responses.

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Ready to give it a try? Send us a message on WhatsApp now!

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For Kenyan businesses engaged in global trade, foreign exchange (FX) costs can quickly eat into profits. Whether you're an importer bringing in goods or an exporter selling internationally, navigating fluctuating exchange rates, hidden fees, and slow settlement times can be a major challenge.

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But what if you could optimize your FX transactions and keep more of your hard-earned money? In this guide, we’ll explore practical strategies Kenyan importers and exporters can use to reduce FX costs and improve cash flow.

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1. Choose the Right FX Provider

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Many Kenyan businesses still rely on traditional banks for their FX transactions, but banks often charge high markups on exchange rates and hefty transfer fees. Fintech solutions like Cedar Money offer more competitive rates, lower fees, and faster settlements, helping you save significantly and make more efficient cross-border payments.

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What to look for in an FX provider:

• Competitive exchange rates with minimal markup
• Transparent pricing with no hidden fees
• Fast settlement times to improve cash flow
• Multi-currency support for seamless transactions

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Cedar Money provides businesses with access to smarter payment solutions where you can enjoy competitive FX rates and get the most value when making international payments.

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2. Time Your Transactions to Get the Best Rates

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Exchange rates fluctuate daily, and even small changes can impact the cost of your transactions. Kenyan businesses can save on FX costs by timing payments strategically.

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How to stay ahead of rate fluctuations:

• Monitor market trends: Keep an eye on global events that may impact currency values.
• Use rate alerts: Set alerts to notify you when your preferred exchange rate is available.
• Plan payments in advance: If rates are favourable, consider locking them in before they change.

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With Cedar Rate Alerts, you’ll receive real-time notifications when FX rates hit your target, helping you seize the best deals without constant monitoring. Set a Rate Alert Now!

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3. Minimize Double Conversion Fees

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Many Kenyan importers and exporters lose money due to double currency conversions. For example, converting KES to USD, then USD to EUR, can add unnecessary FX costs.

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How to avoid double conversions:

• Make payments directly in the recipient’s preferred currency.
• Use multi-currency accounts to hold and transact in different currencies.
• Work with an FX provider that supports direct currency payouts.

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Cedar Money allows Kenyan businesses to send and receive payments in multiple global currencies, reducing unnecessary conversions and maximizing cost efficiency.

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4. Use Bulk Payments to Reduce Transaction Fees

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If your business frequently makes multiple FX payments, sending each transaction separately can increase costs due to per-transfer fees. Instead, consider batching payments to reduce overall fees and optimize FX rates.

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How to optimize bulk payments:

• Consolidate supplier payments into fewer transactions.
• Negotiate better rates with your FX provider for high-volume payments.
• Automate payouts to streamline bulk transfers.

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Cedar Money’s upcoming Payout API will allow businesses to automate and batch international payments efficiently, ensuring lower fees and smoother transactions.

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5. Reduce Settlement Delays to Improve Cash Flow

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For exporters, long settlement times can lead to cash flow constraints, while importers may face supplier delays due to slow payments. Optimizing FX settlements can improve liquidity and business operations.

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How to reduce settlement delays:

• Choose an FX provider with fast T+1 or same-day settlements.
• Avoid banks with slow international wire processing.
• Use fintech platforms that offer instant transfers for certain currencies.

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With Cedar Money, USD payouts settle in T+1, and other currencies process within 1-5 days, ensuring your money moves faster.

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Final Thoughts

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Every shilling saved on FX costs translates to better profit margins and improved business growth. By choosing a competitive FX provider, timing your transactions wisely, avoiding unnecessary conversions, and optimizing settlement speeds, Kenyan importers and exporters can reduce costs, boost efficiency, and stay ahead in global trade.

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With Cedar Money, you get access to competitive exchange rates, fast settlements, and a seamless multi-currency payment experience.

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Ready to optimize your FX transactions? Start Saving on FX Costs Today!

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Cedar Money, a US-based startup championing high-volume cross border B2B payments secured $9.9 million in seed funding to optimize its operations and introduce its solutions to countries in Africa, including Nigeria, Kenya, Ivory Coast and more.

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The seed funding round was led by global fintech investor, QED Investors, and included investment from Lattice, NIV, Stellar, and Wischoff Ventures.

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Since its official launch in 2022—by Benjy Feinberg— Cedar Money now powers pay outs to over 130 countries around the world through its faster and more affordable solution. This funding will enable Cedar Money scale its payment infrastructure and tackle the inefficiencies in international payment.

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Cedar Money works as a bridge between traditional money and digital currency. Businesses and individuals transact in conventional currency (like dollars) on the Cedar Money platform which is then converted into stablecoins—digital currencies designed to have a steady value, usually by being tied to a traditional currency—behind the scenes.

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Businesses around the world but especially in Africa, face problems with high fees, long delays, and unpredictable currency fluctuations when dealing with traditional banking methods. These issues have hampered the growth of African businesses for so long, restricting them to doing business within the borders of their country.

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“If you look at the SWIFT network, fees globally are around 2-3%, but in Africa, they’re much higher. It’s even more gouging in places where people have less money,” founder and CEO Benjy Feinberg said in an interview.

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However, Cedar Money’s stablecoin-powered solution tackles these challenges head-on by combining the speed and efficiency of digital transactions with the reliability and stability of traditional money. With Cedar Money, businesses can now process up to $30,000,000 transactions in just 24 hours—no hidden fees or exorbitant charges.

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With this new funding, what’s Cedar Money’s vision for the future of cross-border payments in Africa, and how do you see this shaping the growth of businesses across the continent?

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Looking Ahead: What’s Next for Cedar Money?

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With this $9.9M seed funding, Cedar Money is gearing up to introduce new solutions that go beyond simplifying cross-border payments.

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According to Nir Atar, the VP of Growth, Cedar Money is developing a next-generation digital payments platform powered by blockchain and advanced APIs to make transactions faster, more transparent, and cost-effective. In addition, Cedar will launch AI-driven compliance tools to help businesses navigate complex regulatory landscapes with ease.

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An exciting addition is Cedar’s upcoming debit card, designed to give businesses real-time insights into their spending, tighter control over expenses, and enhanced security for cross-border transactions.

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“These innovations aren’t just about moving money—they’re about empowering African businesses to grow and thrive in the global economy,” said Nir Atar.

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With these advancements, Cedar Money is not only transforming how African businesses handle international payments but also redefining how they manage their finances on a global scale.

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Ready to Simplify Your Cross-Border Payments?

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Join the growing number of businesses leveraging Cedar Money’s innovative solutions to streamline international transactions, cut costs, and manage finances with ease.

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Experience faster, more secure, and more affordable cross-border payments today. Get started with Cedar Money!

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Kenya's international trade has exploded in recent years. Imports surged from $19.2 billion in 2017 to a remarkable $25.5 billion in 2022, solidifying Kenya's position as the 80th largest trade destination globally. Exports also saw significant growth, climbing from $6.13 billion to $7.34 billion over the same period. This rapid growth in trade presents both exciting opportunities and unique challenges for Kenyan businesses, particularly when it comes to making and receiving large international payments in Kenya.

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To leverage these growing trade opportunities, Kenyan businesses need more efficient and cost-effective solutions.

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How to Send Large International Payments Using KES

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While there are more popular ways— like bank wire transfers, M-Pesa and even other digital platforms— you can make international payments from Kenya, there are very few which can be used to make large payments. Most that do exist come with very high fees and can take multiple days to process transactions.

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As a business owner, time and money are of the essence. Which is why the best solution for you has to be one that saves you time and preserves your profit margin as much as possible.

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And that’s exactly what Cedar Money’s send feature does.

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With Cedar’s send feature, businesses in Kenya can save their dollars!

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SMES, Incorporations, Importers, Exporters and Businesses in Kenya can pay their suppliers in over 130 countries with the Kenyan shilling while the suppliers receive the payment in their preferred currency.

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So, if you’re looking to pay your Chinese supplier from Kenya, you can send the money in Kenyan Shilling and opt for them to receive it in the Chinese Yuan or whatever currency they specify.

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How to Receive Large International Payments From Kenya

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Whether you are an expatriate in Kenya or an exporter with business partners and associates abroad, receiving large international payments in Kenya is now easier, faster and more secure than ever with Cedar Money’s receive feature.

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Like the send feature, Cedar Money’s receive feature hosts the benefits of being able to process up to $30,000,000 seamlessly and at T + 1 settlement periods.

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With the receive feature, the same rules apply. As a business owner in Kenya, you can receive payments in Kenyan Shilling or whatever currency you prefer from your clients abroad in 24 hours.

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Why Kenyan Businesses Rely on Cedar Money for International Payment Solutions

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1. Cost saving: With Cedar Money, you save costs and maximize profits. Asides Cedar’s affordable fees, you also get to save money when you utilize Cedar’s Rate Alert feature which notifies you when exchange rates hit a preferred target you’ve set. And you can also get $180 when you refer a business to use Cedar Money.
2. Fast Transaction Time: With a T+1 settlement period, you can rest assured that you will your payment will be sent and received as planned.
3. Improved Cash Flow Management: Paying in the local Kenyan Shilling can simplify cash flow management and reduce the administrative burden associated with foreign exchange transactions.
4. Enhanced Supplier Relationships: Offering your suppliers the convenience of receiving payments in their preferred currency can strengthen your relationships and make doing business with you an absolute pleasure.

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Ready to see how Cedar Money simplifies cross border trade for you? Start by downloading the Cedar Money mobile app from the comfort of your home via Google PlayStore or the iOS App Store, complete your registration and enjoy global transactions locally.

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Cash flow is the lifeblood of any business, and a healthy cash flow allows you to invest in growth, weather unexpected storms, and achieve your financial objectives.

But managing cash flow can be a real rollercoaster for businesses— one month you're riding high, the next you're scrambling to make ends meet. What if there are ways to smooth out those bumps and ensure a steady flow of cash throughout the year?

As we kick off 2025, let's focus on some practical strategies to improve your cash flow.

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Speed Up Invoice Payments

Late payments can seriously impact your business cash flow. And let's face it, chasing down payments isn't fun for anyone. That's why you need to devise ways to make it easier for your clients to pay on time.

• Offer a small discount for early payments: A simple 2% discount for paying within 10 days can incentivize clients to pay faster, boosting your cash flow and strengthening client relationships.
• Automate your invoicing process: Leave manual data entry in 2024 and take a more efficient approach to invoicing this year. Tools like invoicing software can automate invoice creation, sending, and tracking, reducing the risk of human error and ensuring timely delivery.

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Negotiate Better Payment Terms with Suppliers

As a business owner, you’re probably all too familiar with this frustrating scenario: a tight deadline looming, a critical order pending, and your bank account feeling a little too empty.

That's where negotiating better payment terms with your suppliers can make a world of difference.

What if instead of paying for a bulk order upfront or within a week, you have an extra 30 days to collect payments from your clients before needing to settle with your suppliers? That extra time provides much-needed breathing room for your cash flow.

Longer payment terms give you more time to collect revenue before you need to pay your own bills. So don't be afraid to negotiate more favorable terms with your suppliers.

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Optimize Inventory Management

Excess inventory can be a real drain on your cash flow. You've invested a significant amount of capital in stock, but it sits idle, collecting dust. This ties up valuable funds that could be used for growth, marketing, or even a much-needed team retreat. Not only that, but it also increases the risk of damage, and unnecessary accumulation of storage costs.

This is why optimizing your inventory management is crucial for a healthy cash flow.

• Implement an inventory management system: Utilize tools like inventory management software or spreadsheets to track stock levels accurately. This allows you to monitor inventory movements, identify slow-moving items, and prevent overstocking.
• Forecast demand with precision: Analyze historical sales data, market trends, and seasonal fluctuations to predict future demand accurately. This helps you order the right amount of inventory, minimizing the risk of stockouts and overstocking.
• Consider a just-in-time inventory system: This approach minimizes inventory holding costs by receiving goods only as needed. This can be particularly beneficial for businesses with fluctuating demand, as it reduces the risk of investing in inventory that may not sell quickly.

By optimizing your inventory management, you can free up capital, reduce storage costs, and ensure that your inventory is moving quickly, generating revenue and improving your overall cash flow.

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Cut Costs Where Possible

In business, expenses are constantly creeping up on you. If not properly managed, this can cause your business’ outflows to exceed its inflows, putting your overall cashflow in the negative. To manage your expenses better, consider these strategies:

• Conduct a thorough expense audit: Put on your detective hat and start investigating every line item on your income statement. Where are those sneaky costs hiding? Are you paying for subscriptions you don't use? Are there hidden fees in your contracts? A little detective work can uncover surprising opportunities for cost savings.
• Renegotiate contracts: Don't be afraid to revisit your contracts with suppliers, vendors, and service providers. You might be surprised at the wiggle room available.
• Explore cheaper alternatives: Can you find more affordable alternatives for office supplies, software, or even your internet provider? A little research can go a long way.
• Embrace efficiency: Look for ways to streamline your operations and reduce waste. Can you automate repetitive tasks? Can you reduce paper consumption? Every small step counts

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Leverage Technology

Running a business is hard enough without having to add the complexities of manual processes. From this article, it’s clear that technology can be your biggest ally in managing cash flow. Leverage it a lot in 2025.

• Embrace automation: Explore tools that automate invoicing, payments, and expense tracking. This not only saves time but also reduces the risk of human error and ensures timely transactions.
• Streamline your payment processes: Consider offering a variety of payment options to your clients, such as online payments, mobile wallets, and digital transfers. This makes it easier for them to pay on time, improving your cash flow.
• Utilize platforms like Cedar Money: Cedar Money simplifies cross-border payments, making it easier and faster to receive payments from international clients. With competitive exchange rates and streamlined processes, Cedar can help you optimize your cash flow and minimize the impact of currency fluctuations. Not only that, with awesome features like Rate Alerts and Rewards. The best part is that you can do it all on the go with the Cedar Money app, available on Google Play and App Store.

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Final thoughts: Improving cash flow is an ongoing journey, not a destination

By implementing these strategies and staying proactive in your financial management, you can ensure a steady stream of cash flow, enabling you to invest in growth, weather economic storms, and achieve your business goals in 2025. We’d be rooting for you every step of the way!

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The African continent presents a wealth of opportunities for global businesses. From rapidly growing consumer markets to a rich resource base, Africa is a land of potential. However, for incorporations looking to tap into this dynamic market, navigating the complexities of cross-border payments can feel like trying to chip away at a brick wall with a metal spoon.

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Traditional methods often involve lengthy processing times, high transaction fees, cumbersome processes and unpredictable exchange rates, creating friction and hindering growth.

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All of that fades into the past with the Cedar Money Mobile App.

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Cedar Money: A Game Changer in Global Payments

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Cedar Money empowers businesses in the US, UK, Europe, Asia and globally to seamlessly receive payments from African merchants. By leveraging stable-coins, Cedar rewires the outdated, inefficient SWIFT and correspondent banking network rails with cutting-edge payment infrastructure, making it easier, faster, and more cost-effective than ever before.

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Here's how Cedar helps you navigate the complexities of cross-border payments in Africa and confidently expand your reach into the African market:

• Fast and Secure Payments: Receive payments from African customers quickly and securely, minimizing delays and reducing the risk of fraud.
• Competitive Exchange Rates: Benefit from competitive exchange rates, maximizing your revenue and minimizing costs.
• Transparent Fees: Say goodbye to hidden fees and enjoy transparent pricing with no surprises.
• Enhanced Security: Our robust security measures protect your funds and ensure the safety of your transactions.
• Streamlined Operations: Our user-friendly platform simplifies the entire payment process, saving you time and resources.

Are you ready to unlock the African market?

With Cedar, you can focus on building your business while we handle the complexities of cross-border payments. Sign up today to get started!

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As an importer, you know the drill— sourcing the best products, juggling multiple suppliers, negotiating the best deals, and managing a complex supply chain. But what about the financial side?

Knowing how difficult international payments typically are, what do you do when you urgently need to make a high-volume payment to one of your suppliers in China and have a tight deadline to meet?

Introducing the Cedar Money Mobile App!

Imagine a world where you can manage all your cross-border payments on-the-go, from the palm of your hand.

That’s right, the Cedar Money App is now available for download on the App store and Google Play. So, no more juggling multiple devices or waiting till you’re able to log into your computer.

With the Cedar money app, you can:

• Send and Receive Money Instantly: Need to make a quick payment? No problem. Send and receive high-volume business payment in real-time, right from your phone.
• Track Your Payments: Keep an eye on your transactions and stay updated on their status, all on your dashboard.
• Set Rate Alerts: Never miss out on a great exchange rate. Set alerts and get notified when your target rate is reached.
• Earn Rewards: That’s right, you can earn $180 for each new business you refer to Cedar Money.
• Access 24/7 Support: Need help? Our dedicated support team is just a tap away.

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With just a few taps, you can effortlessly send up to $30,000,000 to over 130 countries around the world.

Ready to experience the future of payments? Download the Cedar Money app today from the App Store or Google Play.

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As an African business owner, you're likely considering expanding your reach into global markets. With China being the largest source of imports in the world, it’s no surprise that they’re at the top of your list.

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Agreed, expanding your business to China can be a game-changer. However, navigating the complexities of international trade, especially when it comes to payments, can be a daunting task. The labyrinth of traditional banking systems, coupled with high fees, slow processing times, and uncertain exchange rates, often leaves businesses frustrated and their cash flow stifled. This is enough to send anyone running and screaming in the opposite direction.

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Imagine paying your supplier in China and converting your funds from your local currency to US dollars first and then to the Chinese Yuan. Remember that each conversion typically comes with its own fees and processing time. That’s time and money that could be better spent growing your business.

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With Cedar’s rate alerts feature, you save money on your transactions as you get to set an exchange rate that’d benefit you and get notified when your target rate is reached.

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Not to mention, these delays could also make it difficult to build good relationships with your suppliers. How? Many times, you cannot provide an exact time or date they’d be receiving their funds, and even worse, the funds may arrive as a lesser amount than what you sent due to various fees that you are unaware of deducted along the way. That could come off as a glaring red flag to your Chinese suppliers.

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For these reasons and many more, the question on your mind shouldn’t be how to pay your Chinese suppliers from Africa but, “What is the best (and fastest) way to pay your Chinese suppliers from Africa?”

Thankfully, the answer is simple, seamless, and fast— Cedar Money.

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Cedar Money: Your Solution for Seamless Cross-Border Payments

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Cedar Money is designed to simplify your international payments, making your business operations far more efficient and profitable. Forget about cumbersome processes when paying your Chinese suppliers from Africa. Cedar Money is a modern and innovative solution to the challenges posed by traditional banking methods. By leveraging cutting-edge blockchain technology, we’ve made it easier for your funds to get to where you need them to be when you need them to be there.

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Why Choose Cedar Money?

• Faster Payments: Forget about waiting days or weeks for your payments to your Chinese suppliers to be processed. With Cedar, you get to accelerate your supply chain and improve cash flow with our fast payment processing times (t + 1 settlement).
• Transparent Fees: Say goodbye to hidden fees or surprise charges that eat into your profit margins. Our pricing is clear and competitive and enjoy competitive rates.
• Enhanced Security: Your funds are safe with us. We use cutting-edge security measures to protect your business and your funds
• Simplified Process: Our user-friendly platform makes international payments a breeze. Not only can you pay your suppliers in China but you can easily pay your suppliers in over 130 countries around the world.
• Features that serve you: Enjoy awesome features on Cedar that are engineered to move your business forward; rate alerts to let you know when rates are favorable to you; a rewards program that allows you to earn money when you refer other businesses, and so much more.

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Experience the Cedar Money Difference

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By choosing Cedar, you're not just making a payment; you're investing in a better future for your business. With Cedar, you can:

• Focus on Growth: Spend less time on payment hassles and more time growing your business.
• Strengthen Relationships: Build stronger relationships with your suppliers by ensuring timely payments.
• Gain a Competitive Edge: Stay ahead of the curve with efficient and reliable payment solutions.

Ready to start making payments to your Chinese suppliers faster and easier?  Sign up on Cedar today!

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