Safaricom Deal With MoneyGram To Boost Kenya Remittances


Mobile network service provider Safaricom is making every effort to achieve global recognition by entering new partnerships with global companies and launching services that aim to offer customer satisfaction and value for Kenyans.

The telecom has today signed a deal with money transfer company MoneyGram that will see customers in Kenya receive money directly to their M-Pesa accounts from MoneyGram users anywhere across the globe.

MoneyGram, which has operations in over 200 countries is seeking to increase its subscriber base by taking advantage of the fast growing mobile money service, M-Pesa.

Through this new partnership, Safaricom demonstrates its commitment towards the country’s economic development as this move will help boost Kenya’s remittances, whose growth continues to be seen year after year.

According to a recent report by Central Bank of Kenya, the inflows from diaspora grew at an annual rate of 26.2% in the last three years accounting for KSh115.5 Billion, while inward remittances grew 11 per cent to reach KSh 83.5 Billion.

In addition to boosting the country’s remittances, this new move made possible by President Kenyatta when he met MoneyGram CEO Pamela Patsley in August, is hugely beneficial to many citizens as well as the M-Pesa platform itself.

MoneyGram’s deal with Safaricom brings good news to Kenyans and non-Kenyans living abroad who have not been able to make use of the already existing services that allow for direct money transfer to the M-Pesa platform.

Earlier this year, Safaricom collaborated with US-based online money transfer service Skrill that has presence in about 200 countries, to allow those living in the US to send money directly to the M-Pesa mobile wallet.

Also through a recent partnership by Safaricom with online money transfer service based in the UK, Azimo, those living in the UK and other countries across Europe can send money to family and friends directly to their M-Pesa mobile wallets by signing up with the Azimo service.

Registering on Azimo is free to users and only requires the person registering to use their email address or Facebook profile through their PCs or Mobile phones.

Then there is the Western Union collaboration in 2011 that allows Safaricom customers to withdraw money sent to them through Western Union from any M-Pesa agent close to them. A collaboration that brought opposition from banks.

Through these direct mobile money transfer services offered through M-Pesa, Safaricom continues to journey around the world popularizing the mobile money service global for the benefit of the telecom as well as the country.

Remittances play a part in contributing to financial and economic development and Safaricom tapping into remittances from Kenyans in diaspora will contribute to a great extent to the country’s economy.


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