Mobile remittances present a key opportunity for inclusion into the formal financial systems for millions of Africans as two regional fintechs come together to make it happen.
The Kenya-headquartered payment solutions provider Cellulant is leveraging KrosPayz, the Africa-wide digital payments platform of its newfound partner Money Q, to provide African expatriates with remittance services.
Cellulant’s partnership with the Dubai-based fintech solutions company will allow Africans living abroad to pay for bills and recharge airtime for their beneficiaries across Africa.
A path to empowering underserved communities
Mobile remittances present a unique opportunity for millions of people to access the formal financial system, bringing financial services and prospects for revenue generation closer to their communities.
Furthermore, remittances help reduce poverty, enhance nutritional well-being, and result in increased birth weight and higher school enrollment among children from underprivileged households.
At the macroeconomic scale, remittances play a stabilising role, smoothing out…
