“The London based global payments company released data showing the amounts its users globally sent this year to different countries around the world as of June 1st”
By African Times News Media
Kenya is among the top 3 countries in
Africa where WorldRemit users globally
send money to. In data shared with
newsrooms globally to mark International
Day of Family Remittances, the London-
based global payments company noted it
had processed transactions to Kenya
worth 170 million GBP (Sh24.47 billion)
as of June 1st, 2022. This figure puts
Kenya at par with Zimbabwe and second
only to Nigeria, where WorldRemit users
globally sent 270 million GBP (Sh38.86
billion) over the period under view.
The full ranking, which looks at send
volumes on the WorldRemit app and
website for the first six months of
2022, is as follows.
1.Nigeria – 270 million GBP (Sh38.86
billion).
2. Kenya & Zimbabwe – 170 million
GBP (Sh24.47 billion)
3.Ghana – 140 million GBP (Sh20.87
billion)
4.Uganda – 100 million GBP (Sh14.39
billion)
5.Cameroon – 75 million GBP (Sh10.79
billion)
6.Tanzania – 60 million GBP (sh8.63
billion)
7.South Africa & Somaliland –
55million GBP (Sh7.91 billion)
8.Rwanda – 40 million GBP (Sh5.85
billion)
WorldRemit, which provides international
money transfer services across 130
countries in over 70 different
currencies, also published data on
inflows to countries in the Americas and
Asia Pacific Region that have
significant migrant populations in the
diaspora.
WorldRemit allows receivers in Kenya to
receive their funds as a bank transfer,
on M-PESA and other mobile wallets, as
cash pick up in selected banks and
financial institutions, and as airtime
top-up on their phone.
Remittances, or money sent back home by
migrants living abroad, have been
steadily increasing in Kenya in recent
years. Data from the Central Bank of
Kenya (CBK) shows that remittances
reached USD 3.71 billion (Sh421.98
billion) in 2021, up 20.2 percent from
USD 3.09 billion (sh351.46 billion) a
year earlier. They a have hit a record
high every year since 2016 and continue
to gain momentum in 2022.
Customer surveys by WorldRemit shows
that the top uses of remittances are
education, medical expenses, and
household needs. More customers are also
shifting to digital channels which have
proven to be more affordable, secure,
and fast.
We are a leading global payments company
and, along with Sendwave, part of Zepz,
a group powering two global payments
brands.
We disrupted an industry previously
dominated by offline legacy players by
taking international money transfers
online – making them safer, faster and
lower cost. We currently operate in more
than 5,000 money transfer corridors
worldwide and employ over 1,200 people
globally.
On the sending side, WorldRemit is 100%
digital (cashless), increasing
convenience and enhancing security. For
those receiving money, the company
offers a wide range of options,
including bank transfer, cash pickup,
airtime top up and mobile money.
Backed by Accel, TCV and Leapfrog –
WorldRemit’s headquarters are in London,
United Kingdom, with regional offices
in the United States, Poland, Canada,
Australia, Hong Kong, Singapore,
Malaysia, the Philippines, South Africa,
Somaliland, Uganda, Kenya, Rwanda,
Tanzania, Zimbabwe and Belgium.
www.worldremit.com
Leave a Comment
You must be logged in to post a comment.