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Monamon partners with WorldRemit to launch instant international money transfers to Guinea-Bissau

New service will enable Guinea-Bissau’s diaspora to send money home to 100 new cash pickup locations across Guinea Bissau

Bissau and London, 10 July 2018: Leading digital money transfer service WorldRemit and Monamon have joined forces to support the increasing demand for money transfers to Guinea-Bissau.

WorldRemit customers can now send money to 100 new Monamon locations across Guinea-Bissau from Bafata to Buba. A full list of cash pickup locations can be found here.

This new partnership will allow Guinea-Bissau’s diaspora in over 50 countries to send remittances as easily as sending an instant message using the WorldRemit app or website.

WorldRemit’s mobile-first, digital model is more convenient as customers sending funds do not have to visit a bricks and mortar agent to make transfers, saving time and money.

With a diaspora of almost 100,000 people living in countries such as Portugal, Spain, France, the United States and the United Kingdom, remittances play an increasingly important role in Guinea-Bissau’s economy. The World Bank estimates that in 2017 alone Guinea-Bissau received over $100 million in remittances.

Andrew Stewart, Director of EMEA at WorldRemit said: ‘Through our new partnership with Monamon, recipients have an even greater variety of cash payout locations across Guinea-Bissau. WorldRemit looks forward to providing wider, more convenient choices of receiving money throughout the country.'