Money remittance companies reaching out to a broader Africa courtesy of Dusupay Octopus

By October 30, 2017Product Updates

Having in mind that money movement is a key factor in Africa, Dusupay’s online payment platform was hatched to answer solve the exact queries faced  by the people in need of these services. Africa is one of the largest users of money remittance companies to move money from beyond and within the continent.

South Africa remains the largest sender of remittance in Africa whereas Nigeria holds top spot as the biggest remittances receiver on the continent – attracting an amount of over $21 billion per annum.

Countries like Morocco, Algeria, and Egypt are also frequent receivers of funds using remittance companies averaging $6 billion a year followed by Sudan ($3.2 billion), Kenya ($1.8 Billion), Senegal ($1.2 billion), South Africa ($1.0 billion) and Uganda ($0.8 billion).

However the costs of using these remittance companies ca get quite expensive ; Sub Saharan Africa is the most expensive region to remit to and as a result the majority of remittances are still sent via informal channels such as buses and taxis that are not secure. South Africa is the most expensive to send remittances from.

Despite remittance companies playing an integral role in how money is sent, the challenge of expenses has hindered the service from growing even bigger.

Upon realizing the challenge of high expenses, Dusupay introduced the Dusupay Octopus platform to specifically help remittance companies and their clients.

Dusupay Octopus was made to simplify money movement between remittance companies operating in Africa and their loyal clients by speeding up the money movement process and making it less costly. With this service, remittance companies are guaranteed :-

  1. A secure avenue through which their clients’ money can pass i.e guaranteed up to date  security.
  2. Dusupay Octopus helps save time and money – the process of setting up branches in all 54 African countries is a big ask and requires a lot of capital as well as time that can be saved with a platform that is already established and conversant with the market – earn your money without having to set up all across Africa.
  3. Remittance companies gt to access a wider reach of the African market – the service guarantees a wider, faster and smooth movement of funds all across the assortment of mobile money service across Africa that would otherwise be a peril to incorporate all at once.
  4. Cheaper costs that suit both the incorporated remittance company and the clients hence luring in even more customers courtesy of low costs.

Remitting is a way of life in Africa, so why not benefit from it in the most secure, low cost and convenient way – thanks to Dusupay.

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