The online money transfer service provider, WorldRemit in a press statement announced it has partnered with mobile carrier Tigo Rwanda. In a move that will enable WorldRemit users to wire directly their international money transfer to the Tigo Cash mobile wallets.
This new partnership has given forth a first of a kind service that will allow Rwandese living outside Rwanda to send money directly to their families and friends’ mobile phones via the mobile money services.
Tongai Maramba, the CEO of Tigo Rwanda, said, “Tigo Cash has already seen tremendous success and adoption within Rwanda. We hailed our one millionth active customer number recently. One-third of our customer base actively uses Tigo Cash, at least, once a month.
We welcome WorldRemit as an innovative partner allowing Rwandans abroad to send money home in the most convenient and secure way; from a smartphone to a Tigo Cash mobile wallet.”
It is estimated that some 2.6 million people in Rwanda use Tigo Cash to send and receive money. It has become an important tool in running businesses, paying utility bills and even paying for mobile carrier airtime.
According to the World Bank, in 2014, Rwandans in the diaspora sent home over $179 million in remittance. The traditional channel for remitting money from the diaspora to Africa is mainly via MoneyGram or the Western Union; both of which charge exorbitant fees for their services.
The new partnership emerged between WorldRemit and Tigo Rwanda should be able to cut down on the cost for Rwandese in the diaspora remitting money back home in Rwanda. WorldRemit has already published an app that is currently being used by people in over 50 countries to send to over 125 countries across the globe.
Alix Murphy, the Senior Mobile Analyst at WorldRemit, added, “For those sending money to Rwanda, our partnership with Tigo Cash sets a new standard; no more extortionate fees, no more waiting in line at convenience stores and cash pick-up locations. Together with Tigo, we make sending money home as easy as sending an instant message.”