Azimo launches Europe-West Africa remittance service

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United Kingdom (UK)-based online money transfer service Azimo has announced that customers across Europe can now send money to recipients in eight West African countries for instant cash pick-up.

Azimo has expanded its services to Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo.

The online service provides a fast, safe and low-cost way to transfer money across borders, either to bank account or for cash pick-up, with Azimo’s rates up to 85 per cent cheaper than high street banks and traditional money transfer providers.

“Together these eight countries have a combined population of over 100 million people and GDP of US$80 billion,” Azimo chief executive officer (CEO) Michael Kent said.

“The World Bank estimates that nearly US$3 billion was remitted to the region in 2012, and with more and more African migrants moving to European countries including France, Belgium, the UK and The Netherlands, the new Azimo service means more money in the hands of their families and communities back home in West Africa.”

Kent said it is important to offer hard-working migrants a convenient and good value service.

“As much as we’re in the money business, we’re also in the people business. We launched Azimo to help those hard-working migrants who were being ripped off by legacy players like Western Union. Today’s announcement means there’s never been a better time to send money home to your loved ones.”

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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