The BelCash Mamapays and FundMeWisely platforms are innovative digital platforms designed for remittance and international payments . It provides essential infrastructure and services to financial institutions and mobile operators, enabling:
Note that The remittance market in Sub-Saharan Africa is huge and growing, driven by high migration rates and a strong reliance on money sent home by family members working abroad. In 2022, the region received $50 billion in remittances, making it a key economic driver, especially in countries like Lesotho and Gambia, where remittances account for a significant portion of GDP.
Many people in the region rely on mobile money services like M-Pesa to receive remittances, especially since access to banks is limited in rural areas. While the remittance fees are high—averaging over 8%—this creates opportunities for FinTech solutions to reduce costs and improve accessibility.
The growing diaspora population and mobile technology are key factors driving this market, and FinTech companies can play a big role in offering cheaper and faster cross-border payments. With increasing efforts toward regional integration, there’s great potential for remittance services to expand and improve financial inclusion across the continent.