FXKudi, MoMAG signs MOU on Financial Inclusion
FXKudi has partnered with the Mobile Money Advocacy Group, MoMAG in Ghana to promote financial inclusion in the informal sector.
According to the Head of Sales for FXKudi, Christain Agbai, the partnership will go a long way to improve accessibility and affordability of financial services in the informal sector.
“We are pleased to have a partnership between FXKudi and the Mobile Money Advocacy Group, Ghana to promote financial inclusion in Ghana. This collaboration aims to leverage the capabilities of FXKudi to facilitate seamless and cost-effective financial services through their agency network.”
Speaking on the partnership, Vice President for MoMAG, Albert Otu-Siaw, said the collaboration has already opened doors to several other benefits for them.
He said the partnership has improved their ability to reach a broader customer base by capitalizing on the customer networks of partners; scaling the agents and increasing their market and commission share within the agency landscape.
FXKudi has been on the digitization drive with the sole purpose of making financial services in the informal sector more effective and inclusive. FXKudi has expanded its agent base to most parts of Ghana and Africa.
The Africa Development Bank, AFDB, report on Financial Inclusion in Africa explained how necessary it is to ensure that economic growth performance is inclusive and sustained.
Financial inclusion refers to all initiatives that make formal financial services available, accessible and affordable to all segments of the population, says AFDB.
As more than 60 percent of financial transactions are made in the informal sector in Africa, there is a need for particular attention to be paid to the informal sector for a more financially inclusive sector.
By Prince Fiifi Yorke