Tranglo, a cross-border payment hub, continues its expansion across Africa with the addition of 10 new payout countries: Benin, Cameroon, the Democratic Republic of the Congo, Gambia, Guinea, Guinea-Bissau, Ivory Coast, Malawi, Rwanda, and Tanzania.
With the latest expansion, Tranglo now supports payouts to 25 African countries.
Remittances are a lifeline for many African families, helping them tackle pressing challenges such as food insecurity, drought, supply chain disruptions, floods, and debt servicing.
According to World Bank data, remittance flows to Sub-Saharan Africa reached USD 54 billion in 2023, with a projected growth of 1.5% in 2024. In countries like Gambia, remittances accounted for 23% of GDP last year, highlighting their critical role in supporting families and local economies.
At launch, all new markets will support e-wallet transactions between individuals. This enables near-instant transactions in local currencies, providing users greater convenience and financial accessibility.
E-wallets have improved financial inclusion across Africa, allowing millions of individuals to receive remittances, pay bills, and access essential services. A GSMA report revealed that the number of registered mobile money accounts in Sub-Saharan Africa reached 835 million in 2023.
Globally, mobile money transaction volumes hit USD 85 billion last year, with international remittances emerging as the fastest-growing use case, growing to USD 29 billion, emphasising its importance in driving economic activity and fostering financial inclusion.
Tranglo Group CEO Jacky Lee said: “In Africa, many adults still lack access to basic financial services. Tranglo’s integration with e-wallets across these new markets ensures that users can send and receive funds quickly and securely in local currencies, further bridging the financial gap in underserved communities.”
Tranglo helps financial institutions and businesses pay through Tranglo Connect, its proprietary cross-border payments solution. Tranglo seamlessly integrates payout and partner services, unifying the end-to-end process with direct API access. With Tranglo Connect, companies can reliably and securely make payments to over 100 countries.
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittances and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, and London. Our global network spans 100+ countries, 250+ mobile operators, 1,500+ banks/wallets and 60 cash pickup services with thousands of touchpoints. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We offer enhanced cross-border payout services with even broader coverage through Ripple Payments.