Cross border money transfer service LemFi has today launched its operations in the Kenya market.
The company is in partnership with Pesa Swap and observes that its operations will help in seamless transfer of money by Kenyans living in the diaspora into the country. The company targets Kenyans living in the United States of America, United Kingdom and Canada. LemFi has further promised to give its customers exemplary transfer rates, observing that they bring on board the best rates in the market for the international currencies.
“When Africans leave their countries to work, study or live abroad, they still maintain family, business and friendship connections back home. These connections are often maintained through communication and the need for effective ways to send and receive items and money from home. It is for this reason that LemFi exists,” Said Lemfi country manager Kakea Mbacha.
Miss Mbacha subsequently observed that 3.5 million Kenyans are currently abroad with the United States, Canada and United Kingdom being the most popular destinations, informing their choice to offer cross border money transfer in those countries.
The LemFi App also provides for a Kenya Shillings wallet setup which customers can open and fund their accounts via mobile money. Once open, the customer can change their Kenya Shillings to other currencies like the dollar, pound and the Canadian dollar depending on their transactions.
“Our services will not attract any fees as we strive to ensure that Kenyans in the diaspora can send money home instantly, at the best rates. This is the brand’s promise,” Kakea added.
On his part, Pesa Swap Chief Executive Officer Chris Munyasya observed that diaspora remittances have skyrocketed in the last financial year with half of the money sent into the country coming from women. “We need to empower our people to access money transfer services at affordable rates so that they can keep the cash flowing back home, “ said Munyasya.
The event also featured the announcement of comedian Blessed Njugush as LemFi brand ambassador. LemFi, formerly Lemonade Finance was founded in 2020 with a simple vision, to empower the diaspora community seeking to achieve more in their lives. The company delivers its services through an App that enables users to send money to several countries globally.
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