Market News Equity diaspora remittance cash rises 87 percentEquity Group chief executive officer James Mwangi. The bank’s chief executive James Mwangi attributed this to linkage with multiple digital platforms, which have helped widen the geographical reach in the remittances segment. The bank’s chief executive James Mwangi attributed this to linkage with multiple digital platforms, which have helped widen the geographical reach in the remittances segment. Equity partners with more than 10 money transfer platforms, including Western Union, PayPal, WorldRemit, MoneyGram and hellopaisa, in addition to its own Equity Direct platform. In Kenya, diaspora inflows have in recent years overtaken agriculture and tourism inflows to become the leading source of foreign exchange for the country.

Source: The North Africa Journal May 26, 2021 21:00 UTC