WORLDREMIT SEES HUGE GROWTH IN MONEY TRANSFERS TO TANZANIA

Digital money transfer service hits 10,000 unique transactions per month

DAR ES SALAAM, Tanzania, February 20, 2017/ -- Digital money transfer service WorldRemit (www.WorldRemit.com/en/Cameroon) is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad. Today WorldRemit is announcing: A new record of 10,000 unique transactions completed in the month of December 2016 alone; 150% YoY growth in 2016, driven primarily by the rapid expansion of Mobile Money accounts as the preferred receive method. WorldRemit customers can send money to Tanzania via Mobile Money to Tigo Pesa, Vodacom M-Pesa and Zantel Ezy Pesa Mobile Money accounts, as well as bank deposit and cash pick up. The biggest senders to Tanzania include migrants currently living in the UK, Sweden, Australia, Norway and Canada, amongst others. With WorldRemit, people in more than 50 countries can send instant, secure transfers to more than 140 destinations. Known as the ‘WhatsApp of money’, WorldRemit makes sending money as easy as sending an instant message. Remittances play an important role in the economy of Tanzania – in 2015 the country received a total of $390 million according to the WorldBank, almost ten times the amount received in 2010. Ismail Ahmed, founder and CEO at WorldRemit, comments: “Our Mobile Money partnerships combined with existing services for bank deposits and cash pick-up will give more choice to Tanzanians, further supporting the transition from costly offline remittances via high street agents to faster, cheaper and safer online transfer methods”. WorldRemit customers currently send over 580,000 transfers every month.  Distributed by APO on behalf of WorldRemit. Media Contact: media@Worldremit.com About WorldRemit: WorldRemit (www.WorldRemit.com) is changing the way people send money. It’s easy – just open the app or visit the website – no more agents. •    Transfers to most countries are instant – send money like an instant message. •    More ways to receive (Mobile Money, bank transfer, cash pickup, and mobile airtime top-up). •    Available in over 50 countries and 140+ destinations. •    Backed by Accel Partners and TCV – investors in Facebook, Spotify, Netflix and Slack. WorldRemit’s global headquarters are in London, UK with regional offices in the United States, Canada, South Africa, Singapore, the Philippines, Japan, Australia and New Zealand.