WorldRemit continues its rapid expansion in Cameroon through new partnership with Express Exchange

Transactions to Cameroon via WorldRemit have grown by 120% within the last year, largely driven by customers in the United States, Cameroon’s top remittance sender

Yaoundé and London, 26 July 2018: Leading digital money transfer service WorldRemit is consolidating its growth in Cameroon, driven by the expansion of its partnership network.

Transactions to Cameroon via WorldRemit have grown by 120% within the last year, largely driven by the United States which has now overtaken Canada as Cameroon’s top remittance sender. Diaspora in the United States now account for 25% of transactions sent to Cameroon. Other large remittance sending countries to Cameroon include the UK, Germany and France.

WorldRemit’s new partnership with Express Exchange will allow customers living in over 50 countries to send money home instantly to 300 new cash pickup locations across Cameroon, from Douala to Yaoundé and Tibati to Ebolowa. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.

To find your nearest pickup location in Cameroon, click here.

Express Exchange is the second largest money transfer institution in Cameroon, with an extensive network of 300 branches across all ten regions of the country.

According to government estimates, approximately five million Cameroonians (21% of the total population) live abroad. Remittances play an important part in Cameroon’s economy, with the country receiving just over $278 million in inbound remittances in 2017 according to  World Bank estimates.

Andrew Stewart, Regional Director of Africa and the Middle East at WorldRemit, comments: “Cameroon is our largest Francophone market in Africa and one of our top eight markets globally. We are delighted to be partnering with Express Exchange, a leading Cameroonian money transfer company, to continue our expansion in the country and provide the Cameroonian diaspora and recipients with access to a wider variety of cash pickup locations.”

Roche TOUMAGA Express Exchange Communication Manager, comments: “In order to meet the growing needs of its valued customers, EXPRESS EXCHANGE has decided to take a global approach and enter into major partnerships to better diversify its products. This is the reasoning behind the recent signing of a partnership with UK-based company, WorldRemit, which is a key player in the international money transfer industry.

“The partnership is the materialisation of Express Exchange's continued desire to increase its service portfolio, as well as the expansion of WorldRemit in the Cameroonian market. This partnership will help us better serve the Cameroonian population.”

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.

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About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.