June 23, 2017 IBOMLLC Team

Kenyan diaspora send the most digital remittances via mobile money

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

According to a report by UK’s fastest growing tech company WorldRemit, Kenyan diaspora do the most digital money transfer to mobile money accounts.

WorldRemit is a digital money transfer service set to oust long-time international money transfer services like the Western Union and MoneyGram. WorldRemit adapts the latest technology in digital money transfer service that makes sending money via the platform instantly.

The report release comes hot on the heels of a 10th year anniversary of the most popular and pioneer mobile money service in Kenya, M-Pesa. WorldRemit report shows up to 93% of funds transferred by Kenyan diaspora back home via the platform were to mobile money wallets.

The report also shows the following findings:

In January this year, Kenyan diaspora transferred $140m to Kenya via WorldRemit. Making the platform one of the popular remittance platforms for the diaspora.

The top countries where Kenya diaspora sent the most money were the UK, Australia, US, Germany, Canada, and Nordic countries.

About 3 million Kenyans are living in the diaspora. The majority of whom being in North America, Europe, and Australia.

The Central Bank of Kenya says remittances make one of the top …read more

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