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WorldRemit launches in Gambia

WorldRemit launches in Gambia.

Global mobile money transfer service WorldRemit has set up shop in Gambia and is in the process of enabling cash pickup services across 50 locations in the country.

According to the company users can send money to the West African country and ensure that recipients can access cash payments from established service points, including MJ Financial Services, Easy Financial Services, Yonna Forex, Gurantee Trust Bank/ TC Bureau de Change.

WorldRemit claims remittances are estimated to have contributed $191m to Gambia's economy in 2014, according to the World Bank. Spain, the UK, and the United States are the biggest senders of remittances to Gambia.

The Company says whilst there is no WorldRemit staff in Gambia, it does have an international business development team in place that will be working with local partners. "In terms of strategy, it is of course particularly important for us to reach out to Gambians who live abroad and raise awareness about our service."

Jeff Pietras, VP for International Product Development, WorldRemit said: "WorldRemit is revolutionising the tired world of money transfers through our online and mobile only service. People around the globe can send money instantly to The Gambia with just a few clicks or taps on their smartphone and enjoy fair, transparent pricing."

In February 2015, WorldRemit received a $100m funding round led by Technology Crossover Ventures.

A report by BuddeComm entitled Africa – Mobile Voice Market and Major Network Operators, brought out at the end of 2014, noted higher mobile penetration rates in several countries including Gambia.

The independent research and consultancy company states that by end 2014 Gambia's mobile market had a penetration rate of 111%, with internet penetration said to be at 19%.

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