Executives of MoneyGram & Capital Bank in a group photograph
MoneyGram and Capital Bank have announced the launch of MoneyGram’s services across Capital’s Bank network in Ghana.
Customers in Ghana can now send and receive money from friends and family through 23 branches across the country. This adds up to the 2,000 plus locations for MoneyGram in Ghana.
John Gely, MoneyGram’s Head of Finance for Emerging Markets, Middle East, Africa and Asia/Pacific and the CEO of Capital Bank- Rev. Fitzgerald Odonkor, made the announcement during a signing ceremony at the Capital Bank head office in Accra.
“As part of our ongoing commitment to serve our clients better, we have partnered with the Capital Bank to ensure our clients enjoy greater convenient access to our services. This partnership brings to a total 2,000 number of places that our clients can access our services in Ghana,” said Mr Gely.
“This means our clients in Ghana are nationwide. We have grown by double digits percentage points in Ghana over the last five years, and we are investing more in our business to sustain that growth. Key partnerships with innovative and strategic partners like Capital Bank are a key enabler of this strategy.
“This partnership with MoneyGram is a reflection of Capital Bank’s commitment to expanding its range of services, providing our customers with a one-stop shop where they can do more in addition to their regular banking transactions. Our extensive reach countrywide will ensure that MoneyGram customers can now send or receive money from our strategically located branches.
“We look forward to integrating further with MoneyGram on alternate channels so our customers can soon receive their remittances via ATM or mobile wallets.”
Rev. Odonkor also stated that Capital Bank was poised to launch series of unique products aimed at Ghanaians living in the diaspora and a strategic partnership with a global player like MoneyGram with presence in over 200 countries exposes the Capital Bank brand to key strategic markets.
Ghana remains a key global remittance corridor.
According to the World Bank, about $1 billion is remitted into Ghana annually.
The key corridors for Ghana are the US, UK, Canada, France and Germany.
There are significant Ghanaian communities also in other African countries, notably, Nigeria, Cote d’Ivoire and South Africa.