WorldRemit, a leading payments company operating globally, has partnered with Juba Express to launch an international payments system to Somalia.
Juba Express is one of the world’s fastest growing money transfer services.
The joint venture between the two firms is designed to provide Somalis with a chance to receive funds from their loved ones in over 40 countries around the world.
Somalis in Europe, Canada, New Zealand, Australia, United States, and the United Kingdom would be able to send money to their families and friends in the East African nation.
World Bank discovered that Somalia receives $1.4 billion in foreign remittances each year.
The foreign remittances are sent by around 2 million Somalis living, studying, and working in the diaspora.
Juba Express’ Business Development Manager, Ali Rashid, assured clients of a “fast, safe, and competitively priced” experience when transferring their money.
Ahmed Tani, WorldRemit’s Country Manager Somalia, promised that the new service would provide the much-needed “digital growth in remittances.”