MoneyGram joins Western Union to partner with Safaricom, targeting over $1B in remittances sent to Kenya annually

Bob Collymore (Left), Safaricom’s CEO, and Pamela Patsley (Right), MoneyGram International CEO

Kenya‘s Safaricom (SCOM.NR) and U.S. company MoneyGram International (MGI.O) have agreed a deal for money to be sent from abroad to Kenya through their money transfer services, targeting more than $1 billion sent in remittances every year.

Safaricom’s nearly 22 million users will be able to receive money directly to their mobile money M-Pesa accounts from MoneyGram outlets in 90 countries.

Read more: Kenya's Safaricom, Moneygram sign money transfer deal | Reuters.