Citibank Kenya Managing Director Ade Ayeyemi. FILE PHOTO | NMG
Pan-African lender Ecobank has introduced a mobile application
that allows individuals to remit money to beneficiaries in any of the 33
African countries where the lender operates, as well as slashed the
cost of transaction.
The mobile app Rapidtransfer is
multi-lingual with English, French, Spanish and Portuguese variants, and
users can choose how and when funds are delivered to the intended
beneficiary.
The new charges range from zero to three
per cent depending on the options the customer selects. Ecobank group
chief executive Ade Ayeyemi said the app is a quick, easy and reliable
digital solution. “We know that remittance flows into and across Africa
from migrants working away from home have an enormously beneficial
impact in powering Africa’s domestic economies,” said Mr Ayeyemi.
He
said by reducing the costs of sending money, the app enables the
beneficiary to receive more of the funds originally sent to them.
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