Online money transfer service WorldRemit and telecoms operator MTN have announced a new mobile money partnership.
This will enable WorldRemit customers worldwide to send remittances instantly to MTN Mobile Money customers in Africa. Uganda, Rwanda and Zambia will be part of the initial roll-out, with other countries set to follow.
WorldRemit noted that mobile wallet services were gaining momentum globally, but particularly in parts of Africa, where significant proportions of the population did not have access to a bank account.
Ismail Ahmed, founder and CEO of WorldRemit said: “Mobile money is rapidly displacing cash as a way of receiving money from friends and family abroad. As well as being fast and convenient, MTN Mobile Money is reaching millions of people who don’t have bank accounts, giving them access to a variety of life-enhancing financial services including savings and insurance schemes.”
MTN Mobile Money is currently used by 22.2 million customers in 16 countries across Africa: Benin, Botswana, Cameroon, Congo, Ghana, Guinea Bissau, Guinea Republic, Ivory Coast, Liberia, Nigeria, Rwanda, South Africa, Swaziland, Uganda and Zambia.
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