INTELLIGENT BRANDS // Software for Business
Pipit Global partners with Cellulant to power low-cost remittances in Africa
According to a recent report by the BBC , about 8 million Africans live abroad . That number is projected to reach 15 million by 2025 . For most Africans living abroad , sending money back home to your family can be very expensive .
In the UK , the average cost to send cash abroad is 9.5 %, so for example , if you were sending £ 120 from the UK to Africa , it would cost roughly £ 11.40 in fees .
Although the cost has come down in recent years , it is still too high and is more than double the 3 % cost target set by the United Nations .
Pipit Global has announced that in Nigeria , Kenya , Uganda , Tanzania , Mali , Senegal and Ghana , consumers can now avail of transactions through the Pipit platform at lower rates than ever before . This follows a partnership with Cellulant , a Pan-African FinTech company that powers a digital payment platforms for businesses and their consumers .
“ Going live in these countries is a big step forward for intra-African remittances . 70 % of Africans who migrate stay on the continent of Africa where the cost of sending money home across African borders is much higher than the fees for sending cash home from the EU – and can reach 20 % in some corridors . Pipit , along with Cellulant , can now solve this problem by making it cheaper and safer for migrants to send cash to their families at home .” said Ollie Walsh , CEO , Pipit .
David Waithaka , Chief Business Officer , Enterprise , Cellulant , said : “ We believe that for Africans to thrive , we need to purposefully create bridges that lessen the geographical , wealth and social gaps , and link communities and their resources with others . Cellulant using technology , builds new types of networks that connect those who have goods and services with those who need them . We are happy to extend our digital payments platform – Tingg and support Pipit ’ s work in connecting the African Diaspora with low-cost payment solutions that allow them to support their families in the continent .”
The partnership between Cellulant and Pipit means that Africans in the UK and EU from any of the listed African countries can conveniently send cash home , top-up an e-wallet , send money to a bank account and pay bills for their families . They can also pay for an e-commerce order and have the goods delivered in Africa .
Waithaka added that :” Every consumer in Africa should be able to access their money easily and pay for goods and services in a way that is convenient for them . Digital payments make this possible , and through this partnership , we are ensuring that consumers across Africa and in the Diaspora can seamlessly access services they need and make their lives easier .”
In the UK , migrant workers from Nigeria , Kenya , Uganda , Tanzania , Mali , Senegal , and Ghana can access the Pipit platform through the PayPoint network of more than 28,000 cash acceptance points across the UK and 35,000 points across the Western EU countries . p
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