Interswitch Partners Credit Bank of Kenya, IFAD to Deepen Remittance

As part of sustained efforts to create solutions that enable individuals and communities prosper across the continent, Interswitch Group, Africa’s leading integrated payments and digital commerce company, has announced a partnership with Kenyan lender, Credit Bank, the International Fund for Agricultural Development (IFAD) and Ria Money Transfer.

The partnership, the company said in a statement, will facilitate the provision of diaspora cash remittance services to rural recipients in Kenya through the Savings and Credit Cooperative Society (SACCOs).

Tagged, “Affordable Remittances and Enhanced Financial Inclusion Programme,” the initiative will enable unbanked rural remittance receivers to access formal banking services through a basic and transparent bank account and see Interswitch and its partners collaboratively train and build capacity for over 1,350 SACCO members.

Speaking on the partnership, Founder and General Managing Director of Interswitch Group, Mitchell Elegbe stated that the collaboration is indeed a significant stride towards bridging the financial divide, empowering more individuals and businesses in Kenya with access to modern payment solutions, and creating a more inclusive financial ecosystem for all.

“This partnership with Credit Bank of Kenya and IFAD marks an important step as we continue to expand our reach and provide innovative solutions for our customers worldwide. As we all know, remittance plays a crucial role in the lives of many people, and we are committed to making it simpler, faster, and more affordable” he added.

According to the Country General Manager of Interswitch Kenya, Romana Rajput, “SACCOs form an important part of our financial services in Kenya where we come together to save money and improve the quality of our lives through lower interest rates loans to acquire important purchases like land, homes, educate our children, improve our businesses and much more. Working with SACCOs and their members will make transfers quicker and more convenient for beneficiaries.”