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WorldRemit expands digital remittance options in Kenya

Digital money transfer service WorldRemit and KCB, the largest bank in East and Central Africa by deposits, have partnered to create a new instant option to send remittances to Kenya, according to a press release.

WorldRemit said in the announcement that the partnership aims to support the growing demand for instant, digital remittances among more than 3 million Kenyans currently living abroad.

Recipients can collect instant funds transfers at KCB branches across Kenya. Later stages of the partnership will enable instant international transfers to KCB bank accounts, a further move towards full digitization of the Kenyan economy, Annastacia Kimtai, KCB retail director, said in a statement.

"This partnership will bridge a gap in money remittances from the diaspora and therefore enhance the experience of our customers in East Africa and abroad," Kimtai said. "Remittances have been on the increase in the last couple of years, and we want to play a bigger role in this space. The fintech era only puts us in a better position to continue to play that role of channeling remittances to build our economy."

Prior to this announcement, consumers had already sent more than 65,000 transfers to Kenya every month from the WorldRemit app and website.

"Kenya is famed for leading Africa's digital transformation, and today it's Kenyans abroad who are at the forefront of digitizing international money transfers," Ismail Ahmed, founder and CEO of WorldRemit, said in a statement. "Most of our Kenyan customers use our mobile app, demonstrating the strong demand for convenience when sending to friends and family."