MoneyGram believes that Africa has a growth potential for the company

MoneyGram has announced it firm intention to expand in Africa. This week the leaders of the money remittance service visited Cape Town, South Africa to discuss the details. According to Pamela H. Patsley, Chairman and CEO of MoneyGram, Africa has significant growth potential for the company, and countries such as Angola, Ghana, Nigeria, Senegal and Morocco are well-positioned to drive this growth. 

According to official statistics 30 million people from Africa live and work outside their countries. Every year more than $20 billion is being transferred to Africa.  

"MoneyGram's plan is to leverage our extensive global network of 227,000 locations in 190 countries and territories to become the money transfer provider of choice on the African continent for sending and receiving money," said Pamela Patsley. "Equally important to our growth in Africa is our unwavering focus on and strict adherence to complying with all laws, rules and regulations in the countries in which we operate."