Afrocoin Mobile Money Revolutionizing Africa’s Online Money Transfers

Start-up mobile money transfer service Afrocoin is revolutionizing how the African diaspora sends money to family and loved ones across the continent. Afrocoin Mobile Money is a secure, fast, efficient and reliable online money remittance service that can be accessed wherever there is internet connection and via mobile devices.

With its growing network of financial services partners, agents and mobile money payment networks, Afrocoin Mobile Money continues to offer fund transfer services to those who do not have access to regular banking services, or live in the remote areas of Africa. 



Afrocoin, in partnership with Sikhona Forex (Pty) Limited of South Africa, recently received approval from the South Africa Reserve Bank (SARB) to operate a money remittance service from South Africa. On October 1, 2015 Afrocoin launched the service to send money from South Africa to Zimbabwe and will expand the service network over the next few months to cover more countries in sub-Sahara Africa including Mozambique, Zambia, Malawi, Tanzania and Nigeria.


Afrocoin Mobile Money services are driven by a professional team of Information Technology experts, business and finance experts, all supported by an exceptional customer service team that provides customer care in English, Kalanga, Ndebele, Shona, Venda, Zulu and five other African languages. Afrocoin Mobile Money's comprehensive solutions come complete with the option to instantly top-up airtime for mobile phones in Africa, across all major mobile phone networks.

The significance of the economic impact of money remittances by the African Diaspora to the continent was underscored in a recent research publication in the European Journal of Development Research, where it was demonstrated that there is a direct positive relationship between increased access to money remittances and improvements in the quality of life in beneficiary communities. Recent research studies published by Adams Bodome of Hong Kong University show that money remittances from the African Diaspora now account for more capital injection into Africa when compared to donor aid from Western countries.

Afrocoin Mobile Money seeks to play a significant role in the financial inclusion movement currently underway in Africa, by harnessing the potential of mobile money technologies to make positive contributions to initiatives that will improve money remittance distribution channel efficiencies, decrease money remittance fees and provide greater access to Africa's unbanked and underbanked communities. In this light, Afrocoin is finalizing its integration with EcoCash’s mobile payment system in Zimbabwe to enable customers to send money from South Africa and almost anywhere in the world, directly into a beneficiary’s EcoCash e-wallet in Zimbabwe. 



In a joint statement Bongi Mlambo, CEO of Afrocoin and Sean Maloney, CEO of Sikhona FX, said, "Current money remittance service operators are not doing enough to improve distribution channel efficiencies, lower fees or provide greater access to Africa's unbanked or underbanked communities. As a result Africa still has some of the highest money remittance fees in the global market, seriously disadvantaging the pursuit of a better quality of life for many African communities dependent on money remittances.

“It’s incredibly frustrating that people have to take time off work to stand in long queues at the money transfer shop; risk being turned away if one misses the shop's inconvenient business hours; complete long paper forms and are then charged exorbitant fees for a service that requires your beneficiary in Africa to travel long distances to the city agent to collect cash. This current state of affairs was one of the main factors that motivated us to do something about the situation, and start the Afrocoin-Sikhona partnership in South Africa, with the objective of providing a secure, convenient and low priced online money remittance service fully geared for today's 24/7 mobile world. Customers are able to send money quickly through our website, on mobile phones, or can call in or text in a money transfer order.”



To learn more about Afrocoin Mobile Money, please visit http://www.afrocoin.com/ 



For further information please contact Anne Cook. Email: info@afrocoin.com 
Phone: +1 780 628 6877

Afrocoin Mobile Money is a start-up mobile money remittance service specializing in sending money from international markets to Africa, and sending money remittances within Africa. Afrocoin Mobile Money provides a secure, fast, convenient, reliable and low priced money transfer service. The initial service coverage covers money remittances from international markets to South Africa and Zimbabwe, with rapid expansion to cover the entire sub-Sahara Africa region in the coming months. 

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