Digital money transfer service WorldRemit, the UK’s fastest growing technology firm and MTN Cote D’Ivoire have launched instant international remittances to MTN Mobile Money wallets in Cote D’Ivoire. With the WorldRemit app, the Ivorian expatriate population can now send overseas money transfers to any MTN Mobile Money wallet in Cote D’Ivoire – with a few simple taps. This means people in Cote D’Ivoire can now receive vital remittance payments on their phones or at any of the 10,000 nearest MTN money transfer agents as cash.
WorldRemit is the leading sender of digital remittances from its website and app to Mobile Money worldwide, sending to 33 different services in 24 countries across Europe, Africa, Asia and the Pacific. More than 100,000 WorldRemit transfers go to Mobile Money wallets every month.
MTN Mobile Money was established in Cote D’Ivoire in 2009 and is one of the largest and most dynamic Mobile Money services in West Africa, with more than three million accounts and 10,000 point-of-sale network.
In a country where 85% of adults lack bank accounts, MTN Mobile Money plays a vital role in supplying suitable financial services to the needs of the population. It allows Ivorians to securely store, send and receive money, pay for electricity and other bills, set up a savings account and access a range of other financial products, with just their phones, in Cote D’Ivoire and its sub-region.
Catherine Wines, Co-founder and COO, WorldRemit, said: “Remittances are central to the lives of the Ivorian diaspora and the people they support back home. With Mobile Money powered by MTN increasingly becoming the norm in Cote D’Ivoire, WorldRemit and MTN are now giving Ivorians the security and convenience of receiving remittances on their phones as well.”
Freddy Tchala, General Director of MTN in Ivory Coast, also welcomed the partnership of MTN and WorldRemit, allowing diaspora to get closer to their relatives in Ivory Coast, and enriching the innovative financial services offering. “MTN welcomes this recent agreement which is in line with our continuous efforts to improve access to financial services, not only for our local clients but also for Ivorians all over the world.”
WorldRemit customers worldwide currently send 400,000 transfers each month. 100,000+ transfers on WorldRemit are sent to Mobile Money accounts every month, equivalent to 25% of all money transfers. More than 50% of all transfers to Africa are currently received as Mobile Money. Nearly 100 million individual Mobile Money accounts can be reached as part of WorldRemit’s network of partnerships with leading Mobile Money providers
MTN Côte d’Ivoire is a telecommunications company launched in 2005 with the purchase by South African group M-Cell, becoming MTN International, from mobile telephone license Loteny Telecom Telcel. MTN Côte d’Ivoire has been awarded best telecommunications provider in West Africa during Africa Telecom People 2014 forum and counts nearly 9 million subscribers.
