Ugandan startup making it simpler for African migrants to send money home
Monday, February 17, 2014
Redcore Interactive operates Remit, a platform that enables real-time debit and credit card and mobile money transfers from across the world to registered mobile money users in Uganda.
Stone Atwine, co-founder and CEO of Redcore Interactive, told How we made it in Africa the company is hoping to transform international money transfers into Uganda.
“We are making it easier, safer and faster for Ugandan migrants to send money back home.”
Africans in the diaspora remitted a total of US$60bn to the continent via money transfer companies in 2012, according to a World Bank report. According to some estimates, about 30m Africans live and work outside the continent and send money back home to support their relatives and also to invest.