Business News of Sunday, 8 April 2018
Zeepay, the fastest growing mobile financial services company in Africa, offering mobile money services, cross-border remittances and mobile payments in partnership with United Nations Capital Development Fund (UNCDF), International Organisation for Migration (IOM), and Premium Bank have received a grant from the Swiss Government to improve mobile remittance services from the diaspora.
The focus of the fund is to assist the partners deepen remittance services in a bid to improve financial inclusion over the next two years.
During the period of the grant the partners are expected to touch the lives of 100,000 persons and improve last mile access through the offering of digital termination of remittances into digital channels such as mobile money wallets, prepaid cards and bank accounts.
Whilst improving first-mile access through the provision of services that enable immigrants ease of access to digital channels directly within the diaspora and collaborating with partners such as Moneytrans, Instntmny, ACE Currency and World Remit amongst others.
Dede Quarshie, the Product Manager for Remittances mentioned that she is exceptionally delighted that through this grant we can launch Remitinvest with our European Partners and Glico Capital to drive remittances for investment into Ghana. She believes this would assist immigrants greatly as they would have a window to save in Ghana.
The Managing Director of Zeepay, Andrew Takyi-Appiah mentioned that this is a significant milestone as European Governments are starting to recognise the plight of migrants and their contribution to national economy building and a good show of their willingness to improve their course.
He also mentioned that digital termination of remittances into mobile wallet is the future as Africa has over 280million wallets and less than 90million bank accounts.
Felicity Luktuka Jafoktuk, The Financial Inclusion Analyst said: “The Swiss Government decision to offer this grant is a major milestone in the life of an immigrant. Reason being that it would go a long way to improve last mile access for remittance receivers who often have to travel distance to collect funds and are exposed to robbery. Whiles achieving Sustainable Development Goals (SDG), which is the core Zeepay’s vision.”