Officials of MoneyGram and Zeepay
MoneyGram has partnered Zeepay to extend its mobile money and remittance services across the world.
Individuals can now receive money into their mobile money wallets, irrespective of their location in Ghana and beyond.
Patrick Appiah, Regional Head of MoneyGram, in a remark, said the deal would expand foreign direct investment in Ghana and also deepen financial inclusion.
Andrew Takyi-Appiah, Managing Director, Zeepay Ghana, was also confident the partnership would increase remittances in Ghana by $1 billion each year.
Key local mobile wallets at users’ advantage as far as such remittance services are concerned include ZeePay wallets; Airtel-Tigo Mobile Money Wallets, Vodafone Mobile Money Wallets and MTN.
According to the World Bank, in 2017, $2.2 billion flowed into Ghana, making it the fifth largest remittances recipient in Africa.
The inflows came mainly from the United States ($585 million), Nigeria ($395 million), United Kingdom ($286 million), Italy ($145 million) and Germany ($115 million).
A total of $38.4 billion was remitted to sub-Saharan Africa, according to the World Bank’s Migration and Development Brief.
A business desk report