Each year, the diaspora sends upwards of $40 billion back home to Africa. Yet according to the World Bank, the world’s poorest continent remains the most expensive, fraud-fraught, complex corridor for digital money transfers. With the launch of a new money remittance app, one fintech founder is determined to remove these critical barriers.
“International remittance has always been about people living in diaspora wanting to share their success with people back home,” said Uzoma Eze, AiDEMONEY co-founder and chief executive officer.
“By replacing profit as the point of the spear, we’re helping Africans fund Africa and, ultimately, rewriting our motherland’s story.”
AiDEMONEY is the money transfer service for Africans who want to send money, and progress, back home. Fast, secure and impact-driven, the app enables digital transfers from the U.S. to four African countries—Cameroon, Ghana, Kenya and Nigeria—with the fifth country, Ethiopia, launching later this month, Eze said.
Eze co-founded AiDEMONEY with Felix Akompi, a fellow member of Houston’s African diaspora community and the company’s chief operations officer.
Available now on the App Store and Google Play, the AiDEMONEY app delivers all the features of world-class money remittance services—plus a “give back” model that builds a stronger Africa.
- Instant transfers: Send money instantly with a debit card or ACH bank account
- Multiple Payout Methods: Send money directly to the recipient’s bank account, mobile money account or cash pickup location
- Secure Money Transfers: Send money safely with AiDEMONEY’s blockchain-powered platform and RegTech fraud prevention technology
- Impact Model: Fund tangible progress in Africa with every transaction fee
AiDEMONEY donates a portion of customer transaction fees to nonprofits in three thematic areas: education and literacy, women’s empowerment and healthcare. Its NGO partners include the Lagos Food Bank Initiative, Shalom Sickle Cell Foundation, Sharing Smiles Initiative and Jenny Uzo Foundation.
“We’re creating a superhighway for tens of billions in USD to flow from one part of the world to another,” Eze said. “When you have the right people with the right vision, that capital tills the ground—tilling out profit, social advancement and a stronger Africa.”
