Pan-continental fintech company, MFS Africa has partnered with Paga, a mobile money transfer provider, to connect its users and Nigerian bank account holders to remittance senders from around the world.
The pact allows customers with Paga wallet to receive transfers from millions of other mobile money users across Africa, or from any money transfer operator connected to the MFS Hub.
Co-founder and Director of Business Development, Paga, Jay Alabraba, said: “People typically think of remittances into Nigeria in terms of flows from Europe and the Americas, but there’s over $3 billion a year coming in just from the Nigerian communities in Benin, Niger and Cameroon; countries that are right next door to Nigeria.
“By joining the MFS Hub, we make it easier for Nigerians in the diaspora to send money back home and we also enable them to pay directly for utility bills, goods and services in Nigeria. We look forward to growing our relationship with MFS Africa in the years to come. This is an important partnership for enabling seamless digital payment for Nigerians at home and abroad,” he added.
Founder and Chief Executive Office of MFS Africa, Dare Okoudjou, expressed excitement in the partnership welcoming Nigeria onto the MFS Hub. He said: “For the last few years, everyone has been looking to the Nigerian market, wondering when and how mobile money would take off. There is an obvious opportunity here and Paga’s commitment to the market and innovative approach to execution will guarantee we make the most of it. They’ve built an impressive agent network, merchant ecosystem, and user base.”