WorldRemit has rolled out a new digital service within Africa for remittances to make it easier for people to send and receive money within the continent, the company said in an announcement. With the launch, the company seeks to focus on Kenya, Uganda, Rwanda and Tanzania. Already, the company transfers more than $1.6 billion to the region. The service could serve frequent travellers who work in different countries, as well as the owners of small businesses that are purchasing goods abroad.
"Just as WorldRemit has revolutionized the way people send money from developed countries, our vision is to do the same within Africa," Ismail Ahmed, CEO and co-founder of WorldRemit, said in the release. "From the frequent traveller, who works in different countries, to the small business owner buying goods abroad, our new fast service will offer the benefits of lower cost and greater convenience."