Wafacash partners with WorldRemit for instant money transfers to Cameroon
Cameroonians living in over 50 countries can now make instant money transfers to over 220 new cash pickup locations nationwide directly from their phones
Yaoundé and London, 30 October 2018: Leading digital money transfer service WorldRemit has joined forces with Wafacash Central Africa to further expand its cash pickup service location network in Cameroon.
Using the WorldRemit app or website, the Cameroonian diaspora living in over 50 countries can now send money home instantly to over 220 new cash pickup locations across Cameroon - from Bamenda to Yaounde and from Douala to Bertoua. The new partnership takes the total number of cash pickup locations in Cameroon to over 1,000.
To find your nearest cash pickup location in the country, click here.
WorldRemit is a global leader in digital money transfers. Its mobile-first digital model saves customers time and money as they do not have to visit a money transfer agent to send funds home.
Transactions to Cameroon via WorldRemit are growing by over 100% YoY. Top senders to Cameroon include the USA, Canada and the UK and cash pickup is the most popular payout method.
Wafacash Central Africa is a subsidiary of Wafacash Morocco. It specialises in local financial services and is a leader in international money transfers. Wafacash is part of the Attijariwafa Bank Group, one of the leading banks in Africa.
According to government estimates, approximately five million Cameroonians live abroad, one fifth of the total population. Remittances play an important part in Cameroon’s economy, with the country receiving just over $278 million in inbound remittances in 2017 according to the World Bank.
Andrew Stewart, Managing Director for Middle East and Africa at WorldRemit, comments: “We are delighted to partner with Wafacash Central Africa, a leader in international cash transfers with a vast network of locations throughout Cameroon.
“Cash pickup is the preferred payout method for our Cameroonian customers. Our new partnership takes our total number of cash pickup locations in Cameroon to over 1,000, making it more convenient for millions of people living in urban and rural areas to collect money from loved ones abroad.”
Mehdi Khandid, Managing Director at Wafacash Central Africa, said: “The Wafacash Central Africa and WorldRemit partnership is a continuation of the wider partnership initiated by our parent company, Wafacash Morocco, and WorldRemit in 2010.
“The partnership will enable Wafacash Central Africa to reach an increasingly digitally savvy Cameroonian diaspora and enable them to connect more easily with their families thanks to our extensive network of agencies across Cameroon.”
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 50 countries to over 145 destinations. More than half of its transfers go to Africa.