Safaricom has signed a new partnership with digital money transfer service WorldRemit to enable instant cross border money transfer to M-pesa mobile money accounts in the country.
World remit has an indirect partnership through other Fintechs whilst still in discussion with some in terms of other technologies that would help improve services.
“Our partnership will enable us to work even more closely to serve customers abroad and back home in Kenya, offering its 3 million strong diaspora access to our best in class money transfer experience.” Sharon Karuga Kinyanjui, Head of East & Central Africa at WorldRemit
Remittances reached a record value of $1.95 billion (Ksh 196 billion) according to the Central Bank of Kenya, making it one the nation’s top earners.
Currently around three million Kenyans live abroad, with large communities in North America, Europe and Australia. Top remittance-sending countries include the UK, Australia, US, Germany, Canada and the Nordic region.
In April WorldRemit and Diamond Trust Bank announced a partnership that will enable Kenyans living in the diaspora to make instant money transfers to the banks local branches.
WorldRemit is an online service that lets people send money to friends and family living abroad using a computer, smartphone or tablet. Money can be received as a bank deposit, cash pick-up, Mobile Money, or mobile airtime top-up.
- Kenyan Wallstreet
