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Ep421: Making international money transfers easy to help foreign nationals send money home
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Matthew Coquillon, CEO and Co-Founder, Mama Money
The international remittances market in South Africa is estimated at around $1.9 billion per annum, a figure that excludes the country’s vibrant informal money transfer segment, and that is based on an expanding migrant population of about 3.2 million. Mama Money, a Cape Town-headquartered social business and money transfer operator, helps foreign nationals to send money home to support their families across the continent in an easy, safe and low-cost way. Founded in 2013 by social entrepreneurs Matthew Coquillon and Raphael Grojnowski with no external founding, the company is now expanded its service offering, providing a banking platform for its customers. CEO Matthew Coquillon spoke about the journey with Gaia Lamperti, IBS Intelligence’s Reporter.