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SimbaPay launches mobile money transfer service to Ghana, Uganda
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The African remittance market is estimated at $32.5 billion annually, according to the World Bank.
SimbaPay, a London-based digital money transfer company, announced today that it has expanded its money transfer service to Ghana and Uganda. With the launch, the company said Ghanaians and Ugandans living in Europe can now send money to mobile phones in their home countries via the SimbaPay app or website.
“This is the perfect Christmas gift to Ghanaians and Ugandans living in Europe who have been asking when SimbaPay will expand coverage to their home countries” said Nyasinga Onyancha, SimbaPay CEO. “By delivering money via existing mobile money wallet services, many recipients who previously could not access formal financial services can now do so.”
When using their bank accounts or credit cards, Simbapay will allow Ghanaians and Ugandans living in Europe to transfer money instantly to recipients’ mobile money wallets such as MTN Mobile Money. The company said the service is also available in Nigeria and Kenya, with more destinations and partners expected to be added in 2017.
Founded in 2014, SimbaPay aims to help Africans living in Europe to send money easily to their home countries. The African remittance market is estimated at $32.5 billion annually, according to the World Bank. In April this year, SimbaPay was selected as one of 10 companies to join the first ever Barclays Accelerator powered by Techstars in Africa. The service launched free, instant transfers from Europe to all Nigerian banks last year.
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