Tag Archives: WorldRemit
WorldRemit: Latest News
Peter Pedroncelli, 6:30 am
WorldRemit, an international digital money transfer business, and Wafacash, a Morocco-based financial services firm have partnered in order to provide instant money transfers to a growing set of African markets. The Moroccan money transfer market-leader and the global remittance company already work together in Morocco and Senegal, but this extended partnership will see their combined operations expanded to serve Cameroon, Benin, Burkina Faso, Niger and Cote D’Ivoire.
Peter Pedroncelli, 8:05 am
WorldRemit, an international digital money transfer business, and the National Bank of Kenya have joined forces to the benefit of the Kenyan people, expanding remittance options for locals and those sending money to the country. The partnership enables Kenyans living abroad to make instant transfers to Bank of Kenya accounts held in both Kenyan Shillings and U.S. Dollars.
Peter Pedroncelli, 6:28 am
Huawei, a Chinese smartphone manufacturer and ICT solutions firm, and WorldRemit, a digital money transfer business, have joined forces in the African context, allowing Huawei to offer WorldRemit’s international money transfer service to African customers. Mobile money services have gained great traction across Africa, with a large unbanked population in many parts of the continent able to transact via their mobile phones.
Dana Sanchez, 3:22 pm AFKI Original
If Ant expands access to mobile money, it could mean that even more people will receive remittances on their mobile money accounts, and that will be good for Ismail Ahmed. Mobile money is disrupting remittances and making formal transactions easier, says Ahmed, a Somali entrepreneur and CEO of online money transfer service WorldRemit. Only 5% of remittances today are sent online. The rest is cash, paid over the counter or at agents. Online remittances are projected to grow six-fold to reach at least 40 percent in the next few years.
Kevin Mwanza, 10:21 am
The Central Bank of Nigeria has given new operating licenses to 11 International Money Transfer (IMTOs) service providers, in efforts to open up the market and make foreign exchange readily available to the nation’s low income earners. WorldRemit, a leading online remitter globally and which sent more than 40,000 transfers monthly to Africa’s biggest economy before it suspended its partnership with local correspondents over new regulations in early August,
Dana Sanchez, 6:12 pm AFKI Original
This is a story of overcoming adversity, of taking on one of the world’s most respected institutions (the U.N.) and winning, and how a Somali entrepreneur turned a $200,000 windfall into a global remittance business valued at $500 million. Ismail Ahmed is CEO of WorldRemit, a U.K.-based online money transfer service. This is how he got from Somaliland to this week being named London’s newest Ernst & Young Entrepreneur Of The Year.
Dana Sanchez, 12:07 pm
WorldRemit may be the first remittances service to pair up with a mobile money service in Burundi, but this sort of arrangement is becoming increasingly popular throughout Africa because of the huge role mobile money plays in financial inclusion. Remittances are estimated to have contributed US$51 million to Burundi’s economy in 2014. WorldRemit and EcoCash want a piece of that.
Staff, 9:57 am
Mobile money remittances in sub-Saharan Africa are projected to reach $33 billion in 2015 as the services are growing above 6% in more than three countries with increasing mobile connectivity, WorldRemit has said. WorldRemit is a United Kingdom-based online service company that lets people send money to friends and family in other countries.
Staff, 9:10 am
Founded in 2010 by Somali entrepreneur Ismail Ahmed, WorldRemit — a London-based tech startup providing low-cost international money transfers — made headlines a few weeks ago when it raised US$100-million in series B funding. Having personally experienced the frustrations of using traditional money transfer agents, WorldRemit’s founder Ahmed set out to create a service that would use technology
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