MoneyGram Reaches 25,000 Locations Across Africa
February 04 2015 - 10:00PM
Expansion Continues With Mauritius Post Office
Agreement
NAIROBI, Kenya (Feb.
5, 2015) (GLOBE NEWSWIRE) -- MoneyGram (NASDAQ: MGI), a leading
global money transfer company, announces today that its agent
network in Africa has now reached 25,000 locations, following a
strategic expansion initiative across the continent. Recent
technology advances and new agent and sub-agent signings, including
an agreement with the Mauritius Post Office to offer money transfer
services at more than 100 locations, have contributed to achieving
this company milestone.
"MoneyGram continues to grow throughout Africa as a result of
forming strategic relationships with reputable companies, including
banks, post offices and retailers, to bring added convenience and
more choices for our customers," says Herve Chomel, MoneyGram's
vice president of Africa. "Remittances are an important part of
economic development and financial inclusion throughout the region
and are integral to providing household essentials, education and
healthcare in many countries. We are excited to be a part of the
region's growth."
Consumers have access to MoneyGram's services in more than 50
African countries. In a series of recent successes, the company
signed an agreement with First Bank of Nigeria's subsidiaries in
Ghana, Sierra Leone, and the Gambia, and also renewed a master
agreement with Standard Bank Group, one of Africa's top banks.
MoneyGram's services are available at over 500 Standard Bank
locations in South Africa and across 11 Southern and Eastern
African countries.
MoneyGram is also implementing innovative self-service channels to
make it more convenient for consumers living in Africa or abroad to
obtain needed funds. The company recently announced an agreement
with Safaricom that enables consumers in over 90 countries outside
Kenya to send funds directly to nearly 20 million customers of
M-PESA, Kenya's leading mobile wallet provider.
About MoneyGram International,
Inc.
MoneyGram, a leading money transfer company, provides essential
services to consumers who are not fully served by traditional
financial institutions. MoneyGram offers worldwide money
transfer services in more than 200 countries and territories
through a global network of 347,000 agent locations, including
retailers, international post offices and
banks. MoneyGram also offers bill payment services,
issues money orders and processes official checks in select
markets.
CONTACT: Media Contact:
Michelle Buckalew
media@moneygram.com
214-979-1418
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information contained therein.
Source: MoneyGram International, Inc. via
Globenewswire
HUG#1892044