International money transfer firm, Mukuru, has opened its first branch in Malawi following a surge in remittances from people in the diaspora to Malawi.
Speaking in Blantyre on Wednesday during the official opening, Mukuru Country Representative, Peggy Mhone, said the opening of the branch in Limbe will help to complement the activities of Mukuru’s partners and agents.
“We have seen a significant increase in the number and amount of transactions being sent to Malawi. Although I cannot disclose the actual amount we handle in a month or year, I can confirm that figures keep rising,” Mhone said.
According to a report from the Trade and Law Centre on Moving Money Across the Boarders, Malawi received a total of $38 million from the diaspora in 2015.
Blantyre City Council Deputy Mayor, Wild Ndipo, hailed Mukuru for opening the Limbe branch.
Ndipo said for Blantyre to develop, it needs more money, including contributions from the diaspora.
“This will definitely ensure easy cash transfers from the diaspora into Blantyre, thereby allowing city residents to embark on various development projects,” he said.