Bankers Seek Options to Overcome High Transfer Costs of Remittances

Bankers seek options to overcome high transfer costs of remittances

UBA Chairman Kakeeto says there is need to focus efforts ensuring maximum benefits of remittances to the country Kampala, Uganda | THE INDEPENDENT | Inflows from Ugandans based outside the country increased to $1.4 billion, or about sh5 trillion, ahead of tourism or coffee earnings in the economy. However, this remains low according to the country’s estimated potential, and the banking industry says the value of diaspora remittances can grow 10 …

LemFi Expands to Egypt, Tapping Into $29.6B Remittance Corridor

LemFi, the London-based international payments startup, has launched its services in Egypt, targeting the country’s large diaspora and surging remittance market. Why it matters: Egypt is one of Africa’s largest recipients of remittances, pulling in a record $29.6 billion in 2024, nearly double the previous year. With remittances making up 6.11% of Egypt’s GDP, the […] The post LemFi Expands to Egypt, Tapping Into $29.6B Remittance Corridor appea…

Egypt’s $20 billion remittance: Why LemFi wants in

LemFi debuts in Egypt, opening fee-free remittances to capture a share of the diaspora’s $20.6 bn inflows—its 31st corridor in a UK-to-Cairo push—sparking competition for Egypt’s diaspora cash.

LemFi Launches International Payment Services to Egypt - Fintechnews Middle East

LemFi, a London-based international payment services company, has announced the expansion of its operations to Egypt, broadening its service offerings to one of Africa’s key remittance corridors. The move builds on LemFi’s existing footprint in the US, Canada, the United Kingdom, and Europe, and supports its ongoing strategy to serve diaspora communities across North Africa, including those in Morocco and Tunisia. Egypt remains one of the contin…