WorldRemit turns to bank collaboration for African expansion

London-based WorldRemit has extended its digital money transfer service to six additional countries in western and central Africa through a partnership with Côte d’Ivoire-based Guaranty Trust Bank.

The alliance enables consumers to use the WorldRemit mobile app or website to send funds from overseas to any bank account in Benin, Guinea-Bissau, Mali, Niger, Senegal and Togo, WorldRemit said in a Dec. 9 press release.

“This service removes the barriers that limit customers’ access to remittances and provides them with a quick and convenient way to receive money from any part of the world,” said Dan Shuaib, Guaranty Trust Bank’s managing director, in the release.

Dean Hutton/Bloomberg

With the WorldRemit app, consumers from western and central Africa living abroad can send money home to their friends and relatives with just a few taps, added Ismail Ahmed, WorldRemit’s founder and CEO.

WorldRemit said it processes 500,000 remittances each month, with the majority of volume going from developed nations to the Philippines and Africa, including Ghana, Nigeria, Kenya, South Africa and Somalia.