MoneyGram Kenya just announced that its agent network in Africa has reached 25,000 locations, as a result of a strategic expansion initiative across the continent. Its agreement with Safaricom, will enable consumers in more than 90 countries outside Kenya to send funds directly to nearly 20 million customers of M-PESA, a Kenyan mobile wallet provider.
This was possible with its recent technology advances and agent signings with Mauritius Post Office to offer money transfer services at more than 100 locations. Also with newly signed agreement with First Bank subsidiary in Ghana, and a renewed agreement with Standard Bank group aided its expansion in Ghana, Sierra Leone and Gambia.
“MoneyGram continues to grow throughout Africa as a result of forming strategic relationships with reputable companies, including banks, post offices and retailers, to bring added convenience and more choices for our customers,” says Herve Chomel, MoneyGram’s vice president of Africa. “Remittances are an important part of economic development and financial inclusion throughout the region and are integral to providing household essentials, education and healthcare in many countries. We are excited to be a part of the region’s growth.”
MoneyGram says services are available at over 500 Standard Bank locations in South Africa and across 11 Southern and Eastern African countries.
MoneyGram is also on the verge of implementing a self-service channels for consumers in residing Africa or abroad to get needed funds.