Xpress Money, one of the most dependable money transfer brands in the world, recently partnered with FINCA UGANDA to deepen its footprint in Uganda.
This partnership with FINCA UGANDA comes by virtue of the brand’s association with Diamond Trust Bank – Xpress Money’s principle partner in Uganda. Xpress Money offers its customers the ease of transferring money through its305agent locations in the country, which include 27locations of FINCA (U) LTD.
Uganda, one of the foremost countries in the Eastern African belt for remittances, received $1.375 USD Billion in 2017. The World Bank also states that the chief countries contributing to the remittance inflows in the market include United Kingdom, Rwanda, United States of America and Canada.
In the last few years, the country has also registered a growing rate of outward remittances, to countries such as United Arab Emirates, India and Pakistan.
Xpress Money is consistently expanding its presence in Uganda with an aim to provide money transfer services that deliver on simplicity, convenience and security. This development comes after understanding the growing need of instant and secure services by customers in Uganda.
The company is in the process of collaborating with businesses to offer innovative and customizable remittance solutions and is presently offering both send (Cash to Cash, Account Credits and Mobile Wallets) and receive (Cash to Cash) services in the country.
Speaking on the partnership, Sudhesh Giriyan, the Chief Operating Officer, Xpress Money said, “According to The World Bank, remittances received by millions of Ugandans in the country amounted to $1.375 USD Billionin 2017- around 4.8% of the country’s GDP. This income, contributes to household expenditure, healthcare and education, has a larger effect on the poverty levels, standard of living and the overall growth of the economy .As one of the leading International Money Transfer Organisations (IMTOs), it is very important that our services are accessible and convenient, which we aim to further enhance with our partnership with FINCA Uganda .”
Mr. James Onyutta, the Managing Director of FINCA Uganda, announced that the addition of Xpress Money is a move to enrich FINCA’s product portfolio.
“This partnership is a symbol of growth and this gives our customers the opportunity to send and or receive money from their loved ones more conveniently and safely, within Uganda and across the globe,” Mr. James Onyutta added.
Speaking on this partnership, the Chief Executive officer of Diamond Trust Bank Mr. Varghese Thambi congratulated FINCA UGANDA on their move to offer money transfer services alongside their other products.
Mr. Thambi also encouraged Ugandans at home and in the Diaspora to embrace the modern ways of transferring money and to take advantage of the reduced rates offered by Xpress Money to send money worldwide.