WorldRemit launches online bank transfers to nine African countries

WorldRemit customers in over 50 countries can now make fast, secure and low-cost bank transfers to Botswana, Central African Republic, Chad, Malawi, Mauritius, Mozambique, Namibia, Togo and Zambia

London, 17 October 2018: Leading digital money transfer service WorldRemit continues its rapid expansion in Africa, launching low-cost bank transfers to nine new countries across the region.

Nearly 3 million migrants living in over 50 countries can now send money directly from their phones to any personal bank account in the following countries: Botswana, Central African Republic, Chad, Malawi, Mauritius, Mozambique, Namibia, Togo and Zambia.

WorldRemit’s mobile-first, digital model saves customers time and money, as they do not  have to visit a bricks and mortar agent to make transfers. Beneficiaries will receive their funds into their bank account within 1-2 working days.

Transactions to Africa via WorldRemit have grown by nearly 75% this year. With the new bank transfer service, WorldRemit is launching money transfers in three new markets - Mauritius, Mozambique and Namibia - and expanding its footprint in six other countries.

According to the World Bank, remittances to Sub-Saharan Africa increased by over 11% from 2016 to 2017, reaching $38 billion. However, the region is still the most expensive in the world to send money to, with an average cost of 9.4 percent.

Andrew Stewart, Managing Director of Middle East and Africa at WorldRemit comments: “We are delighted to expand our service in Africa to allow more members of the diaspora to send low-cost, fast and secure online bank transfers directly from their phones.

“Over half of all transactions through WorldRemit go to Africa. The new service will drive down the cost of remittances to the region and support our plan to serve 10 million customers in emerging markets by 2020.”

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.

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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.