- WorldRemit and Juba Express will work together to provide Somalis with the chance to receive cash from various locations across the world.
- Recipients can receive the money in cash from Juba Express outlets across the country, though a senior WorldRemit figure predicted that the partnership would help speed up digitalisation.
- Somalia is highly reliant on cash from abroad, with US$1.4bn believed to be being transferred to the country every single year.
A leading international money transfers firm has revealed a new partnership with the company Juba Express as part of a new push to help Somalis receive cash transfers in the way that is most convenient to them.
WorldRemit said that it would work alongside Juba Express to offer customers access to the WorldRemit global platform for receiving remittances from abroad.
This will mean that those customers can send and receive remittances from loved ones in various destinations, including major markets and expat emigration destinations such as the UK and the US.
Other places represented include Europe, Canada and the Antipodean nations.
The new service will have a strong digital element, with customers encouraged to use services such as the WorldRemit app.
However, it will be possible for recipients to receive their cash in person.
They can do this at Juba Express in-person outlets, which are located across the East African nation.
Senior figures at both firms expressed their satisfaction at the news of the new partnership.
Ali Rashid, who is the business development manager at Juba Express, said that the move would offer security, speed and a low price for customers.
“We are happy to be able to provide this great opportunity for Somalis,” he said.
“With Juba Express and WorldRemit working together, customers are able to experience a safe, fast and competitively priced money transfer experience,” he added.
On WorldRemit’s part, Ahmed Tani, the firm’s country manager for Somalia, said that the new service would facilitate the flows of cash between loved ones in Somalia and further afield – a key channel and economic lifeline for many Somalis.
“Somalis can remit home with ease and know that they are helping their families and friends to create new opportunities in all that is important to each family member,” he said.
He also predicted that the partnership would increase the rate of digitalisation in the online money transfer sphere.
“Additionally, this will accelerate the digital growth in remittances,” he said in the press statement.
Figures from the World Bank reveal that cash is sent back home to Somalia from abroad by about two million people every single year.
In total, the amount of money sent to people in the country from expats abroad is believed to represent around a quarter of the country’s gross domestic product.
The figure is believed to be around ‘US$1.4bn.
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