WorldRemit Africa revenue to double by 2020 on mobile money, says Founder & CEO Ismail Ahmed

Ismail Ahmed, Founder & CEO, WorldRemit

WorldRemit Ltd., a British money-transfer operator founded by Somali entrepreneur Ismail Ahmed, sees revenue from transactions involving Africans doubling by 2020 as more people on the continent access mobile-payment platforms and expatriates send cash home.

The seven-year-old company, in which Facebook Inc.-backer Accel Partners LP invested $40 million in 2014, will this year open a regional office in South Africa, its largest market on the continent in terms of money-transfer value, founder and Chief Executive Officer Ismail Ahmed said in an interview. Another site will start operating in Kenya, where the London-based business sees Africa’s highest number of individual transactions.

“In the next two years we should be doubling our volume every year,” Ahmed said in Kenya’s capital, Nairobi.

Read more: WorldRemit Africa Revenue to Double by 2020 on Mobile Money – Bloomberg

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