Through Hello Group’s money transfer service Hello Paisa, Malawians who work abroad can send their families much needed funds, which they can now collect at any Malawi Post and FNB branch,
The 2015 Financial and Digital Inclusion Project (FDIP) Report and Scorecard, ranked Malawi 19th overall on the 2015 FDIP Scorecard. Among the 21 FDIP countries, Malawi had the lowest GDP in current US dollars, according to the 2013 World Development Indicators database.
Despite economic and infrastructure challenges in Malawi, the truth is that African countries have the highest rate of migrant workers, and often breadwinners, living and working abroad. This highlights the essential demand and need for reliable, secure and accessible money transfer services like Hello Paisa.
Managing Director of Hello Paisa, Ahmed Cassim, MD of Hello Paisa says, “Money transfer services contribute substantially to a country’s economy. Not only is it an important source of household income for thousands of families, it serves as a key contributor to critical sectors like education, entrepreneurship and healthcare.”
Cassim says: “With the heart and soul of an entrepreneur, we’re continuously looking to bridge the financial gap for informal sectors. We know that this kind of tech-savvy innovation truly has the power to transform their lives.”
Hello Group is looking to service the Malawian diaspora around the world but, according to Cassim, this goal can only be successfully achieved through partnerships.
The expansion into Malawi does not come without a firm strategy. Hello Group has undertaken in-depth market research to gain get to grips with their operational markets in Africa.
Nadir Khamissa, Hello Group CEO, says: “We as an organisation see our services as not capitalising on informal sectors but building communities through technology to drive positive change within their societies.”
Khamissa calls on Malawians to help bridge the gap on financial inclusion by experiencing the low-cost international money transfer solution that puts convenience and security first, because he knows that this is what their families deserve.