International cash transfer company WorldRemit signed an agreement with mobile money provider Paga to allow direct payments to 11 million additional accounts in Nigeria.
In a statement the global remittance company said the move “considerably grows” its footprint in the country, which opened new channels to its users in more than 50 countries transferring money to citizens in Nigeria.
According to figures cited by WorldRemit, Paga is the country’s widest-reaching mobile money company with more than 14,000 agents present across 36 states.
Approximately $26 billion was transferred into Nigeria during 2018, according to World Bank figures. This places the country among the most popular destinations for the service in Africa.
The remittance company already offers direct transfer to bank accounts in Nigeria and allows remote purchase of mobile phone credit for users of Airtel, 9Mobile, Glo, MTN and Visafone brands.
WorldRemit chief commercial officer Tamer El-Emary said: “Our partnership represents a new milestone for WorldRemit as we expand our service offering in Nigeria to include mobile money, a technology that has been transformational for communities across Africa.”
The agreement is the latest in a series of deals struck to allow WorldRemit to increase the scope of operations in target countries. In January, it unveiled expansion deeper into Ethiopia and South Africa as it continues to chase a target of 10 million customers by next year.Subscribe to our daily newsletter Back