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Azimo, Interswitch partner for money transfer service in Nigeria

Thursday 30 August 2018 | 08:43 AM CET

Azimo has announced a partnership with Interswitch Group to enable instant money transfers from 23 countries in Europe to customers in Nigeria.

The new partnership will help the fintech company to tackle the problem of financial exclusion in a country where 40% of the population is unbanked.

Digital money transfers play a significant role in the growth of Nigeria’s economy. Remittances to the nation were worth USD 22 billion in 2017, the equivalent of 5.6% of Nigeria’s GDP and higher than the country’s oil revenues, according to Pulse.

Azimo is part of a business delegation with UK Prime Minister to tour three African countries. The company will promote fintech innovation in South Africa, Nigeria and Kenya.

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