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MoneyGram Now Has More Than 25,000 Locations In Africa

Mobile Commerce Insider Featured Article

February 17, 2015

MoneyGram Now Has More Than 25,000 Locations In Africa

By Oliver VanDervoort
Contributing Writer

Money on the go seems to be the name of the game in 2015 and the 21st century in general. Sometimes the game is mobile commerce solutions such as wallet applications like Apple Pay and Google (News - Alert) Wallet and those ilk. Other times, the game is making sure people are able to get money wherever they need it quickly and easily. It is the latter that has allowed MoneyGram to just recently cross the 25,000 location threshold in Africa.

The company says the expansion to that level is the byproduct of a strategic expansion initiative that was geared towards reaching across the continent. That reach included forming a partnership with the Mauriotius Post Office in order to offer money transfer service at more than 100 locations.

"MoneyGram (News - Alert) continues to grow throughout Africa as a result of forming strategic relationships with reputable companies, including banks, post offices and retailers, to bring added convenience and more choices for our customers," Herve Chomel, MoneyGram's vice president of Africa said in a recent statement. "Remittances are an important part of economic development and financial inclusion throughout the region and are integral to providing household essentials, education and healthcare in many countries. We are excited to be a part of the region's growth."

The 25,000 locations are spread out among more than 50 African countries thanks to a number of contracts it has signed with banks and other financial institutions across the continent. In addition to the dealings with these companies, MoneyGram is looking at putting out some applications and other self-service channels that make it more convenient to those who might be living in a part of Africa that is more remote. Those living in these remote areas might have a hard time getting to a company that has a MoneyGram tie. One way in particular is an agreement with Safaricom that will enable consumer in 90 countries to send fund to customers using Kenya’s leading mobile wallet provider, M-PESA.

Edited by Stefania Viscusi

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