HOW MONEY REMITTANCE BUSINESSES CAN EXPAND FURTHER IN AFRICA
Businesses have to adjust according to changing times. As time shows the businesses that do not adapt to change end up suffering as times change. This article is intended to highlight a fundamental change happening in the money remittance space to Africa.
As a money remittance business owner you should be aware that mobile money has taken Africa by storm. In just a decade it has changed how Africa transacts. Take an example in 2016 over 50% of Kenya’s entire GDP was transacted through MPESA at some point. This goes to show that this may be the future for Africa as the banking networks havent been able to achieve such a milestone.
In Tanzania over 30 million people are now using mobile money on a daily as compared to less than 1.5 million using banks every day. By far this is now the better way to pay and get paid in Africa.
Money remittance businesses can tap into this mobile money revolution. Rather than paying recipients of funds through outlets you have to set up in each country, why not simply pay out to clients the way they prefer to get paid in Africa?
The money remittance business to Africa is now worth over $35 billion. More and more companies are entering the space to rival Western Union and Money gram considering how lucrative the industry is. For the smaller companies however, setting up branches in every country or city may be impossible yet your business still needs to scale across Africa to be in position to capture a large portion of the market share.
Money remittance companies can boost their services to customers throughout the continent and beyond by partnering with dusupay. DUSUPAY bridges the gap of distribution between different mobile money wallets and bank accounts on the continent.
With one integration to dusupay any remittance company can seamlessly pay out to multiple mobile money wallets and bank accounts in Ghana, Uganda, Nigeria, Tanzania, Kenya, Rwanda among other countries instantly.This helps eliminate the challenge of having branches in every location for money remittance as long as their clients have a mobile money accounts thus saving them a lot of money in the process.
The company recently unveiled DusuPay octopus. Built for money remittance and bitcoin companies. Need to know more about Octopus