A new money transfer firm is set to be launched in Nairobi. [PHOTO/nation.co.ke]
A new money transfer firm is set to be launched in Nairobi.
WorldRemit is planning to set up a branch in Kenya this year in efforts to make diverse its in African states.
Kenya is WorldRemit’s second largest receiving market, coming second after the Philippines, with some 93 per cent of the transfers to the East African country being received through mobile money accounts.
According to a communique from the UK-based company, the Nairobi office will be mandated with growing the WorldRemit brand as well as setting the stage for other cross-border mobile transfer services in the region.
“Because we have a treasury platform with many African currencies and because we’re connected to most of the major mobile money platforms, it is easier for us to help cross-border transfers in Africa… this is part of the business we’re looking at now,” said WorldRemit chief executive Ismail Ahmed.
The firm said it has the capability of executing direct money transfers to 112 million accounts across the globe.
The company has already signed a deal with Kenya Commercial Bank (KCB) to effect real-time transfers from the diaspora into Kenya and East Africa.
The new Nairobi office will be their second in Africa after another was set up in Zimbabwe.