United States based money transfer company, MoneyGram recently launched money transfer service directly to any bank account in Ghana which means funds can be send via MoneyGram online or at any of MoneyGram’s locations around the world.
The new account deposit service in Ghana is a part of MoneyGram’s strategy to accelerate its digital growth and provide customers with convenient and accessible, technology-based financial services.
“We see a potential in the increasing adoption of banking services in Ghana and want to drive financial inclusion in the region by offering our consumers more digital money transfer options. Currently our global account deposit network consists of more than two billion bank, virtual and mobile accounts in 48 countries,” said Grant Lines, MoneyGram’s global chief revenue officer.
According to the World Bank, in 2017, $2.2 billion flowed into Ghana, up 4.3% compared to 2016 what makes the country fifth largest remittances recipient in Africa. The inflows come mainly from the United States ($585 million), Nigeria ($395 million), the United Kingdom ($286 million), Italy ($145 million) and Germany ($115 million).