The Covid-19 pandemic is fuelling a boom for Africa-focused money transfer companies, despite predictions from the World Bank of a historic 20% drop in remittances to poorer countries this year.
WorldRemit, a UK company that specialises in money transfers into Africa, plans a new funding round in the next six months ahead of a potential initial public offering or buyout.
Huawei said on Tuesday it will partner with British money transfer operator WorldRemit to let African expatriates send cash home to millions of users of the Chinese company’s mobile money service platform. The deal will
WorldRemit, a British money-transfer operator, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile payment platforms and expatriates send cash home. The seven-year-old