Kenya’s money remittance business has advanced significantly in the past few years. An assessment of more than two-thirds of the adult population which holds around 25% of the country’s Gross National Product moves through remittance companies. This has been moved to mobile phones in that people can now transfer cash using their phones due to new various fintech innovations in place.
Kenya, just like any other African country, has many people working abroad who have to send money to their loved ones occasionally, but due to different economic stances with given foreign countries ; it becomes a bit complex to send directly and also quite expensive with the resulting charges.
Most countries where the money remittance companies get the funds have developed banking systems and cards to help in payments and sending money well as Kenya uses Mpesa as its core source of money movement.
How best can money remittance companies play their role and serve the people of Kenya?
The integration of Dusupay in the Kenyan market has simplified the issue of long distance payments - money remittance companies that receive money from people abroad can use Dusupay to effectively pay out to the recipients in Kenya by using their online platforms to streamline payments from abroad where the payment systems are different from that of Kenya’s Mpesa.