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MoneyGram Keys Into Financial Inclusion Initiative For Growth

By Eric Eghaghe
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MoneyGram, a world leader in money transfer with over 20,000 points of sale in West Africa has reiterated its confidence in the Nigerian economy and affirmed its interest in supporting the financial inclusion agenda of Nigeria

These views were expressed by Carl Olav – Scheible, MoneyGram international's executive vice president for Europe, Africa and emerging channels, on arrival in Lagos for a weeklong visit. He is accompanied by a well powered delegation of MoneyGram senior executives including Herve Chomel, Vice president for Africa; Ana Ansell, Vice president for marketing; Neil Edwards, Vice president for finance and Francois Peyret, regional director for North and West Africa.

The Visit by MoneyGram international's top management is also to mark key achievements by MoneyGram Nigeria in its 17 years of existence. This includes its 15millionth transaction, network growth to over 6000 locations and potential enablement of over 80 million phone users in Nigeria through the recent launch of MoneyGram on the PocketMoniMobile wallet. MoneyGram is the only MTO with a local office in Lagos from where it hubs its Anglo West Africa operations.

MoneyGram offers over the-counter money transfer services in Nigeria through its Agents partners such as Access Bank, EcoBank, FirstBank, UBA, Union Bank, Enterprise Bank, Sterling Bank, WEMA Bank, Fidelity Bank, Skye Bank, Mainstreet Bank, and keystone Bank,. The service is a critical lifeline, allowing Africa's largest diaspora- Nigerians abroad- send money home to loved ones for upkeep healthcare and education.

It further remarks, Carl Scheible noted: “The African remittance industry in Particular is enjoying vibrant growth, and MoneyGram is well positioned to provide remittance services to a growing community of customers. Nigeria is no doubt an important factor to consider in our quest to achieve our aims. Through our strong partners, a reliable product and innovation, MoneyGram has added and continues to add value as it deploys its global market footprint to constantly deliver customer satisfaction.

“MoneyGram's impact in Nigeria over the last 15years has not been limited to the delivery of safe, fast and convenient money transfer solutions. We have developed and support the regulatory bodies in their quest to curb fraud and other financial crimes. Our good citizenship has seen MoneyGram invest significant part of its revenue in good causes across the country. Consumer promotions, along with CSR and our favourable pricing policy are some of the ways we continue to show our commitment to Nigeria.