WorldRemit hits 1.5 million transactions to Uganda
Rapid growth of digital money transfer service fuelled by remittances to mobile money accounts
Kampala and London, 1st November 2018 - Leading digital money transfer company WorldRemit has crossed the 1.5 million landmark in transactions sent since launching its service in 2012.
The company’s rapid growth in Uganda has been driven by transfers to mobile money accounts, which have grown by over 150% in the last two years, reflecting East Africa’s status at the top destination for mobile money remittances worldwide.
WorldRemit’s mobile-to-mobile model supports Uganda’s efforts to promote financial inclusion as 90% of its recipients in rural areas receive their transfers directly to their phones.
Uganda is one of the top five remittance receiving countries in Africa for WorldRemit, in addition to Ghana, Nigeria and Kenya. The World Bank estimates that the country received over $1.4 billion in remittances in 2017, accounting for 5% of its GDP.
Catherine Wines, co-founder of WorldRemit, said: “The rapid growth of WorldRemit in Uganda demonstrates the rising popularity and convenience of our fast, safe, and low-cost money transfer service.
“Whether in London or Washington, D.C., Ugandans worldwide can make secure, instant money transfers directly to loved ones living thousands of miles away in just five taps directly from their phones.”
Currently, Ugandans living and working in over 50 countries can send remittances as easily as sending an instant message, using the WorldRemit app or website. Senders can choose to send funds via bank transfer, cash pick-up, and mobile money services including MTN Mobile Money and Airtel Money.
To find out how to send money to Uganda, click here.
Last year WorldRemit became Arsenal FC’s first-ever online money transfer partner. Two Ugandan coaches from Kampala and Gulu were recently shortlisted for the Arsenal-WorldRemit Future Stars football coaching programme. The Future Stars programme was launched in August to offer local coaches from across Africa the chance to attend an exclusive new training camp with Arsenal’s top Soccer Schools coaches in London.