Online money transfer platform WordRemit has become the first company to offer mobile remittance services to Burundi.

Customers in 50 countries can now send money directly to EcoCash mobile wallets in the country, just like an instant message. EcoCash, from EcoNet, is available on the two million feature phone and smart phone connections in the African territory.

Only 7 per cent of the adult population of Burundi is banked, and there are now more mobile money accounts than bank accounts in the country. Some 350,000 Burundians live abroad, and WorldRemit is also hoping to tap into this market of ex-pats who want to transfer money to friends and relatives at home.

Alix Murphy, senior mobile analyst at WorldRemit, said: “Ninety-three per cent of adults in Burundi are unbanked, severely limiting financial security, job prospects and economic freedom. Mobile money services such as EcoCash enable people to access financial services through their mobile phones, making the ‘unbanked’ for the very first time the ‘mobile banked’.”

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