The partnership allows for affordable money transfers from South Africa to Zimbabwe with guaranteed US dollar collection Matthieu Coquillon and Raphael Grojnowski, Co-founders, Mama Money CAPE TOWN, South Africa, 24 January 2023 -/African Media Agency(AMA)/- Mama Money, a rapidly growing fintech that offers cross-border money transfer and banking services has partnered with AFC Commercial Bank, a market leader in […]
The partnership allows for affordable money transfers from South Africa to Zimbabwe with guaranteed US dollar collection Matthieu Coquillon and Raphael Grojnowski, Co-founders, Mama Money CAPE TOWN, South Africa, 24 January 2023 -/African Media Agency/- Mama Money, a rapidly growing fintech that offers cross-border money transfer and banking services has partnered with AFC Commercial Bank, a market leader...
It’s estimated that the monthly remittance flows from South Africa to Zimbabwe range between $30 to $60 million US dollars through both formal and informal channels and accounts for over 10% of the country’s GDP according to the World Bank. Mama Money played a leading role in reducing the cost of money transfers from South Africa as the company’s founders, Raphael Grojnowski and Matthieu Coquillon, started the business to make a positive impact on the lives of underserved migrant communities in South Africa.
Our goal when the company started was to bring down the cost of money transfers, we feel that we have achieved this, and now want to reduce the cost even more as we expand and launch our services in more countries around the world.”
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