London – WorldRemit, a British money- transfer operator, 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-backer Accel Partners invested $40 million (R526.5 million) in 2014, will open a regional office in South Africa this year.
South Africa is its largest market on the continent in terms of money-transfer value, founder and chief executive 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.
Read also: A cashless revolution
“In the next two years we should be doubling our volume every year,” Ahmed said in Kenya’s capital, Nairobi.