Access Holdings Collaborates With Safaricom and M-Pesa to Facilitate Remittances Between East And West Africa
Access Holdings, a leading financial institution in Africa has joined forces with Coronation Group, Safaricom, and M-Pesa Africa to streamline remittance services in both East and West Africa.
This collaboration seeks to enhance money transfer convenience for millions of Africans, thereby promoting financial inclusion across the continent.
Access Holdings, led by Aigboje Aig-Imoukhuede, is pushing for the biggest share of the remittance market in East and West Africa.
Speaking on the partnership, he said,
“This partnership encompasses more than a convergence of capabilities; it signifies the fusion of collective expertise, resources, and an unwavering commitment to drive financial inclusion, empowering millions throughout Africa”.
This collaboration holds significant promise, considering Africa’s substantial remittance flows, with Nigeria and Kenya emerging as primary recipients in their respective regions.
Based on a 2023 report, remittances to Nigeria constituted 38% of the $58 billion remittance flows to Africa, experiencing a modest 2% growth. Meanwhile, other major recipients such as Ghana and Kenya witnessed estimated increases of 5.6% and 3.8%, respectively.
The initial phase of this initiative will concentrate on remittance corridors in Nigeria, Kenya, Ghana, and Tanzania, with the aim of simplifying cross-border money transfers to empower millions of Africans and unlock economic opportunities. Notably, in recent times, Access Holdings has accelerated its expansion strategy.
