MFS Africa has joined forces with Western Union to provide individuals and businesses across the continent with access to money transfers from over 200 countries and territories. This partnership will allow funds to be sent from around the world to mobile wallets across Africa through the organization’s licensed payment rails. Initially, the service will be launched in Madagascar before expanding to other countries across the continent.
Kumar Shourav, Managing Director, MTO’s at MFS Africa, emphasized that this partnership is groundbreaking for the industry and has huge potential benefits, value, and impact implications in the long run. He noted that Africa’s diverse countries are not only different in terms of population, development levels, growth rates, and stability but also in terms of payment infrastructure and regulations. MFS Africa has over a decade of experience navigating the challenging Africa payments landscape and has a direct relationship with mobile wallet players, banks, cash pick-up networks, and regulators on the continent, making it unmatched in the industry.
Similarly, Western Union’s mission is to empower populations around the world with accessible financial tools to improve their lives and communities. The company aims to be the global leader in providing accessible financial services to the world’s populations and, in turn, increase global financial inclusion.
Through this collaboration, MFS Africa aims to become a preferred, better, and one-stop solution for payments into and within Africa, while Western Union strives to achieve its critical role in getting money to the places where and when it is most needed. The organizations will provide customers, businesses, and Global Development Organizations across the world with access to convenient payout options in Africa, fostering better integration between Africa and the rest of the world, and supporting financial inclusion across the continent.