The Vice-President, Dr Mahamudu Bawumia, has commended Taptap Send Africa, an international money transfer company currently operating in Ghana for its commitment in driving digital growth in remittances into Ghana.
This was when he visited the company’s booth at the just ended 2023 Ghana Investment and Opportunities Summit in London.
It was under the auspices of the Ghana Investment Promotion Authority.
The third edition of the Ghana Investment and Opportunities Summit (GHIOS), which took place at the London Hilton on Park Lane, on June 6 and 7, 2023, saw captains of industry and business leaders showcasing Ghana to the world as the choicest investment destination in Africa.
Responding to the remarks by the Vice-President, the Growth Director in charge of Africa for Taptap Send Africa, Darryl Abraham Mawutor, said his outfit had been motivated to do more in their operations to increase remittances to the country.
He pledged that Taptap Send would intensity its public outreach on financial literacy, while improving customer experience across the world by addressing challenges that people faced in transferring money to the country.
Taptap Send has established a call centre with a staff strength of 29 persons that speak Ghanaian and other international languages to help satisfy the needs of customers in a marker of growing cybersecurity concerns.
Mr Mawutor said the effort by the company was to increase the confidence of customers and help increase remittances into the country which stood at $4.7 billion in 2022 and projected to reach $5 billion by the end of 2023.
Global remittances account for more than $500 billion annually, most of which moves into developing countries, with a market dominated by traditional services, which he said caused delays and limited reach.
“We are, therefore, helping people to send money instantly and securely at a fraction cost by deepening our connections in Ghana and positioning our operations to attract more remittances to support economic growth by making money transfer seamless and safe,” he said.
“The basis upon which we are doing this is to create employment by increasing access to financial technology services, get people to make money and grow the Ghanaian economy,” he said.
The growth director said he was confident that when the government and all stakeholders in the finance and technology sectors worked more collaboratively, the country would become a hub to attract more fintech companies and remittances.
“There are a lot of people with the requisite skills who only need the opportunity to work with global companies with the right policies and conducive environment and support systems, and once we have this, Ghana’s finctech sector will transform,” Mr Mawutor said.
Taptap Send, which operates in the United Kingdom, United States and supports payments into African countries including, Ghana, Senegal, Mali, Guinea, Kenya,Cote d’Ivoire, and Zambia, as well as Asia.
The venture-backed company has investors Reid Hoffman — an American internet entrepreneur and former co-founder of LinkedIn, the Omidyar Network — a social change investment firm and Helois — a private investment firm.