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Bank of Africa partners with WorldRemit for digital money transfers to Uganda

The Ugandan diaspora in over 50 countries can now send money instantly to 35 new cash pickup locations directly from their phones

Kampala and London, 10 August 2018: Leading digital money transfer service WorldRemit has joined forces with Bank of Africa to allow customers to send money instantly to 35 new cash pickup locations in Uganda - from Gulu to Entebbe and from Mbale to Mbarara.

The Ugandan diaspora in over 50 countries can now send money instantly for collection as cash at Bank of Africa branches using the WorldRemit app or website. Bank of Africa is one of the top three pan-African banks, with a presence in 18 countries worldwide. It has a network of 35 branches across Uganda.

Uganda is one of the top five remittance receiving countries in Africa for WorldRemit . The World Bank estimates that the country received over $1.4 billion in remittances in 2017, accounting for 5% of its GDP.

Sharon Kinyanjui, Head of East and Central Africa at WorldRemit, said: “We are delighted to be partnering with Bank of Africa, a leading pan-African financial institution, to give the 400,000-strong Ugandan diaspora a wider choice of cash pickup locations across the country.

“Africa now accounts for over half of WorldRemit’s transactions globally, and our ongoing collaboration with Bank of Africa will support our plan to serve 10 million customers connected to emerging markets by 2020.”

Arthur ISIKO, Managing Director at Bank of Africa - Uganda Ltd., said: “In line with Bank of Africa’s Triennial Development Plan to provide tailor-made financial solutions and convenient, affordable services to our customers, we have partnered with digital money transfer service, WorldRemit. Our partnership enables the Ugandan diaspora to send money home to friends and family, using the WorldRemit app or website.

“The WorldRemit partnership will offer the diaspora more money transfer options and make remittance rates more competitive, ultimately benefiting our customers and supporting financial inclusion”.

Last year WorldRemit became Arsenal FC’s first-ever online money transfer partner in a global sponsorship deal. WorldRemit customers complete one million transfers every month from over 50 countries to over 145 destinations. More than half of its transfers go to Africa.