LemFi has introduced its Cross-border money transfer services in Kenya with an eye on the country’s growing remittance market.
In partnership with Pesa Swap, the fintech says that the platform will seamlessly help Kenyans send money into the country.
Its target market includes Kenyans living in the United States of America (USA), the United Kingdom (UK), and Canada, among others.
Lemfi country manager Kakea Mbacha noted that when Africans leave their countries to work, study or live abroad, they still maintain family, business and friendship connections back home.
“These connections are often maintained through communication and the need for effective ways to send and receive items and money from home. It is for this reason that LemFi exists.”
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Users can also set up wallets using Kenyan shillings and fund their accounts via mobile money.
Subsequently, customers can change local currency to the dollar, pound, or Canadian dollar, depending on their transactions.
“Our services will not attract fees as we strive to ensure that Kenyans in the diaspora can send money home instantly, at the best rates. This is the brand’s promise,” Kakea said.
Pesa Swap Chief Executive Officer Chris Munyasya said that diaspora remittances have skyrocketed in the last financial year, with half of the money sent into the country coming from women.
“We need to empower our people to access money transfer services at affordable rates so that they can keep the cash flowing back home, “added Munyasya.
The event also featured the announcement of comedian Blessed Njugush as a LemFi brand ambassador.
