Flutterwave launches ‘Send’ to ease Africa’s growing remittance flow
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Names Wizkid as global ambassador
Africa’s leading payments technology company, Flutterwave, has launched a remittance solution it has named ‘Send’, designed to facilitate an easier and convenient way of driving the increasing remittance flow and uptake to the African continent.
A report by the International Monetary Fund (IMF) puts at about $40 billion, the amount remitted across formal channels to various countries in the sub-Saharan Africa region in 2020, with Nigeria taking a significant share of total remittances.
The report further noted that remittances sent to the region through informal channels, at 45–65 percent of formal flows, are significantly higher compared to other regions.
It is on account of this that Flutterwave said the new innovation will offer customers the easiest way to send money to all parts of Africa from within the continent and the globe, as well as provide Africans easy access to fund overseas bank accounts.
The tech-based company made the disclosure during the unveiling of Grammy award-winning international artist, Ayodeji Balogun, popularly known as Wizkid, as its global brand ambassador.
The company explained that the new partnership with Wizkid will enable increased awareness of the affordable and seamless remittance services ‘Send’ offers to the global African diaspora.
Commenting on the partnership with Wizkid, Olugbenga Agboola, founder and chief executive officer of Flutterwave, said: “Wizkid’s story is that of hard work, resilience and excellence. The way he constantly represents Africa in the global entertainment stage is something we love. As a leading technology company out of Africa, our values align and we’re excited to have him join us to drive adoption for Send.”
Agboola further noted that Flutterwave and Wizkid share a common belief of showcasing the best of Africa to the world, adding that Send is the best remittance solution out there by coverage, cost of transactions and speed.
“Send represents our over five years of learning, relationship-building, research, and development in cross-border payments. It is also a truly African solution made in Africa by Africans and for the world.
“We want to create opportunities for Africans everywhere through Send. We hold our vision of creating endless possibilities in Africa close to our heart and we’re excited to work with Wizkid to drive these goals,” he added.
In his remarks, Wizkid expressed excitement to work with Flutterwave in bringing more Africans into the digital economy through Send.
He also commended Flutterwave’s technology innovations set towards positively shaping the African continent for future growth.
“My team and I send a lot of money across borders every day. Using a solution developed by Africans for our daily payments needs is a thing of pride and efficiency.
“For someone like me that’s always on the go, Send offers me the opportunity to keep in touch with my responsibilities across all parts of Africa. It doesn’t matter if I am in the UK and want to make a payment in South Africa, Ghana, Kenya or Nigeria—all I need to do is Send it,” Wizkid stated.