WorldRemit launched its mobile-to-mobile fund transfer service in five new African markets including Malawi, Guinea and Mozambique taking the number of countries where the product is available to 29.
The latest additions are the result of a deal with mobile payment hub company MFS Africa and allow it to transfer money to and from accounts held with: MTN in Guinea; Vodacom in Mozambique; Orange in Madagascar; and Airtel in Malawi and Niger.
With the new destinations, WorldRemit is able to reach mobile money accounts provided by 39 operators across 29 countries. This gives it a potential base of more than 190 million individual accounts.
In a statement, WorldRemit said almost half of its transfers into the African continent are received on mobile money services, with the company also offering transfers to traditional bank accounts, third party agents and as purchases of airtime top-up.
WorldRemit managing director for MEA Andrew Stewart said: “Our partnership with MFS Africa helps us accelerate our financial inclusion mission while expanding our footprint across the continent.”