Tranglo expands its reach by entering 10 new countries in Africa

Tranglo specialises in business payments, foreign remittances, and mobile payment solutions. The company operates now in over 100 countries, now including: Benin, Cameroon, the Democratic Republic of the Congo, Gambia, Guinea, Guinea-Bissau, Ivory Coast, Malawi, Rwanda, and Tanzania, and partners with 250+ mobile operators, 1,500+ banks/wallets, and 60 cash pickup services. As a partner of Ripple, Tranglo upgrades cross-border payout services with broader coverage through Ripple Payments.

Tranglo facilitates payouts to 25 African nations 

With its recent expansion, Tranglo supports payouts to 25 African nations. For many families in Africa, remittances serve as a vital support system, helping them address urgent issues such as food insecurity, drought, supply chain challenges, flooding, and debt repayments. According to World Bank statistics, remittance flows to Sub-Saharan Africa reached USD 54 billion in 2023, with an anticipated growth of 1.5% in 2024. In countries like Gambia, remittances comprised 23% of GDP last year, underscoring their role in bolstering families and local economies. Upon launch, all new markets will enable e-wallet transactions between individuals, allowing for nearly instantaneous transactions in local currencies and upgrading convenience and financial accessibility for users.

E-wallets have significantly advanced financial inclusion across Africa, enabling millions to receive remittances, settle bills, and access vital services. A GSMA report indicated that the number of registered mobile money accounts in Sub-Saharan Africa reached 835 million in 2023.

Globally, mobile money transaction volumes soared to USD 85 billion last year, with international remittances emerging as the fastest-growing segment, reaching USD 29 billion. This highlights the role remittances play in stimulating economic activity and promoting financial inclusion.

Tranglo assists financial institutions and businesses in making payments through Tranglo Connect, its exclusive cross-border payments solution. This platform integrates payout and partner services, simplifying the entire process with direct API access. With Tranglo Connect, companies can confidently and securely send payments to more than 100 countries.