Global money transfer service Africhange broadens its reach, now offering its services in the UK market.
Africhange Enters the UK Market, Expanding its Global Presence
Africhange, a leading global remittance services provider, has made its entry into the United Kingdom market. The company, which already supports money transfers from Canada, Nigeria, Australia, and various other countries, aims to address the issue of expensive and inefficient international money transfers for the African diaspora.
According to David Ajala, the founder and CEO of Africhange, the company's entry into the UK market is a significant milestone. "We are committed to improving the global payments experience for the African diaspora," Ajala said.
In 2023, the UK-Africa remittance corridor transferred over $8 billion to various African countries. Africhange plans to extend its services to Ghana and Kenya by year-end, in addition to the United Kingdom. This move is expected to further boost remittance flows to these countries.
Africhange offers competitive market-leading exchange rates to students enrolled in UK universities and accommodates a wide range of currencies, including US Dollars, Canadian Dollars, Chinese Yen, Nigerian Naira, Kenyan Shillings, Ghanaian Cedis, Indian Rupees, Australian Dollars, and British Pound Sterling, among others.
The company has also acquired an Authorised Payment Institution License and plans to broaden its range of payment and financial services for users. Africhange's loyalty program, Afripoints, is already available in the UK market.
Nigeria is one of the largest recipients of remittances from the UK, due to strong historical ties and a growing Nigerian diaspora. Africa has some of the most expensive remittance corridors globally, with fees reaching up to 15 percent in certain cases. Africhange aims to address this issue by offering competitive rates and a seamless, cost-effective, and user-friendly global payment experience.
Africhange currently supports remittance services across more than 100 global corridors. The company's services are available in various countries worldwide, and it continues to expand its global footprint, with plans to reach more corridors across Africa, Europe, Asia, and the Americas.
With its entry into the UK market, Africhange is set to revolutionise the international remittance landscape, making it more accessible, affordable, and efficient for users around the world.
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