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MoneyGram expands in Africa with Express Exchange partnership

Global money transfer company MoneyGram through its relationship with Express Exchange has officially reached the 20,000 agent location milestone in Africa.

MoneyGram’s African region vice president Herve Chomel said that in the money transfer industry convenience is a critical component, particularly in Africa.

"In the past 18 months, we have added 3,000 MoneyGram agent locations to our network in Africa and have grown to 20,000 throughout the continent," Chomel added.

The money transfer company also has agent network with pan-African banks in Cameroon such as Afriland First Bank, Banque Atlantique and UBA.

In 2012, MoneyGram added First National Bank in South Africa and Ecobank in Nigeria, expanding its presence in Nigeria.

According to the World Bank, an estimated $39bn in remittances flowed into Africa in 2010.

Operating in over 50 countries throughout Africa, MoneyGram offers its services in the US and Canada through a global network of more than 293,000 agent locations in 197 countries and territories.