LemFi, a Nigerian-based cross-border payment platform that enables the diaspora community to send and receive money has partnered with Pesa Swap – a Kenyan and UK-based online and mobile payment solutions company to expand its services in Kenya.
Formerly known as Lemonade Finance, Lemfy is targeting over 500,000 Kenyans living in the United States of America (USA), the United Kingdom (UK), and Canada, among others.
LemFi Country Manager Kakea Mbacha during the launch event said,“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.”
Customers in the United Kingdom, United States and Canada can access the services by downloading the LemFi app which enables them to send funds directly into bank and mobile money accounts at zero fees.
The app also supports the use of multiple currencies through various wallets that customers can open and deposit money in different accounts.
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 easily change their Kenya Shillings to other currencies like USD, GBP & CAD 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,” said Mbacha.
Pesa Swap CEO Chris Munyasya, said that diaspora remittances have grown tremendously in the last financial year with 50% of the money being sent by 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,” he added.
The launch event also featured the announcement of comedian Blessed Njugush as LemFi brand ambassador. The comedian will be working closely with LemFi to promote the company’s services and products amongst the Kenyan diaspora and also lend his voice to LemFi’s marketing campaigns and initiatives.