WorldRemit launches digital money transfers within Africa

Inter-African service will drive down costs and make cross-border transfers easier and faster for individuals and businesses

Nairobi and London, 3rd September 2018 - Leading international money transfer company WorldRemit has launched a new digital service within Africa, making it easier to send and receive money across the continent.

The new digital service will reduce the cost of sending money across borders. The prohibitive charges that individuals and businesses pay to transfer money within Africa are recognised as a major obstacle to the growing regional integration promoted by the continent-wide free-trade agreement signed by 44 countries in March 2018.

The fast-growing economies of the East Africa - Kenya, Rwanda, Tanzania and Uganda - are being targeted for the roll-out of this latest innovation.

With its transfers to Africa growing by 80% year-on-year, WorldRemit transfers more than $1.6 billion at an annualised rate to the region. The company trades in all major African currencies every day and has an extensive pan-African distribution network including bank, mobile money and cash pick-up points.

WorldRemit’s digital money transfers are quick, secure and lower-cost - giving small and medium-sized businesses an alternative to costly traditional money transfer systems.  

Ismail Ahmed, CEO and Co-founder of WorldRemit comments: “Just as WorldRemit has revolutionised the way people send money from developed countries, our vision is to do the same within Africa.  From the frequent traveller, who works in different countries, to the small business owner buying goods abroad, our new fast service will offer the benefits of lower cost and greater convenience.”   WorldRemit customers send transfers from over 50 countries to over 145 destinations globally. Last year WorldRemit became Arsenal FC’s first-ever online money transfer partner in a global sponsorship deal.

Press Enquiries

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.