Equity system handles Sh67b in diaspora remittances during the first half of 2019

Kenyans in the diaspora sent home Sh66.6 billion using Equity Bank’s Financial Technology (FinTech) capabilities during the first half of 2019.

The figure represents a 28 per cent growth from the previous year, when they used the bank’s technology platform to send home Sh52.2 billion.

“The bank received more than 50 per cent of all the country’s diaspora remittances largely due to its FinTech capabilities, reporting significant increase in remittance market share with Equity Bank projecting further growth this year,” said Group Managing Director and CEO James Mwangi.

He said diaspora commission grew to Sh398 million during the six-month period from Sh383 million recorded during a similar period in 2018

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