Onome Amuge
Clea, a blockchain-enabled payments platform designed to simplify cross-border trade for African businesses, has formally launched operations, positioning itself to address long-standing foreign exchange and settlement challenges faced by importers across the continent.
The platform enables African importers to pay international suppliers in United States dollars while settling transactions locally, a structure aimed at bypassing traditional banking frictions. During its pilot phase, Clea processed over $4 million in cross-border transactions.
For years, African importers have contended with constrained access to foreign exchange, volatile exchange rates, high banking charges, and delays linked to correspondent banking processes. These challenges are compounded by a widening trade-finance gap estimated at more than $120 billion annually, which continues to limit the ability of small and medium-sized importers to secure timely international payments. Industry operators say such frictions often result in delayed shipments, strained supplier relationships, and increased exposure to fraud.
Clea seeks to address these issues by offering direct, transparent USD settlements without intermediaries, using blockchain infrastructure to reduce settlement risk and improve transaction traceability. Payments can be completed on the same day or within 24 hours, depending on transaction preferences, providing importers with greater predictability in managing supply chains.
Founded by Sheriff Adedokun, Iyiola Osuagwu, and Sidney Egwuatu, Clea was developed out of the founders’ first-hand experience navigating unreliable international payment systems. The platform currently supports Nigerian importers transacting with suppliers in the United States, China, and the United Arab Emirates, with plans to expand into additional trade corridors over time.
At launch, Clea allows businesses to make payments in naira while accessing USD liquidity instantly, a feature the company says helps importers avoid delays associated with sourcing foreign currency through traditional channels. Transactions are fully traceable, a measure intended to reduce fraud risks and improve supplier confidence.
Speaking on the launch, Sheriff Adedokun, co-founder and chief executive officer, said delayed or failed payments remain a major source of operational stress for importers. “Importers face unnecessary uncertainty when payments are rejected or held up. Clea removes that friction by enabling reliable, secure, and traceable payments completed in the importer’s own name, which strengthens trust with international suppliers from the outset,” he said.
Iyiola Osuagwu, co-founder and chief technology officer, said the company’s broader objective is to make international trade as seamless as domestic transfers. According to him, blockchain technology provides a critical bridge between local currencies and global payment rails, helping to dismantle barriers that have constrained African importers for decades.
Beyond its core payment offering, Clea is building partnerships across the trade ecosystem. The company is already working with shipping operators that refer merchants to the platform and is engaging trade associations and logistics networks in key import hubs to drive adoption.
Although the company remains fully bootstrapped, its founders say they are open to strategic investors aligned with Clea’s long-term mission of building trusted financial infrastructure for African businesses. The focus, they note, is less on rapid fundraising and more on scaling a platform that delivers consistent value to importers.
Looking ahead, Clea plans to expand operations across all 36 Nigerian states while opening additional payout routes across Africa and other global markets. Sidney Egwuatu, co-founder and chief operating officer, said the next phase of growth will centre on scale and partnerships. “Our priority is to build a dependable financial backbone that supports importer growth and reduces the friction that has historically held African trade back,” he said.
