The African diaspora returns billions of dollars to the house each year, sending funds a rescue buoy for millions of families across the continent.
Reports reveal that in 2024, Africans returned a record of $ 56 billion in fund transfers to sub -Saharan Africa, which meant a significant increase compared to previous years. However, despite the importance, sending him money home remains a heavy and difficult process for many Africans in the diaspora.
One of the most urgent challenges faced by the flows of funds to Africa is the prohibitive cost of transactions. Sub -Saharan Africa has regularly classified as the most expensive region in the world to send money. On average, it costs 7 to 9% of the amount sent, much greater than the global average of 6% and well above the target of the United Nations sustainable development target by 3%. For a family receiving $ 200, this could mean losing $ 14 $ 18 in costs, money that could have gone to the necessities.
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These costs are driven by a combination of factors such as lack of competition, dependence on traditional brick and mortar agents, exchange rate increases and regulatory obstacles. Many providers of international funds transfer services have not innovated in a way that benefits African beneficiaries, keeping inflated costs and limited options.
In addition to high costs, slow transaction speeds are another major obstacle. Many traditional fund transfer services take several days to complete a transfer. For beneficiaries who depend on this income for daily survival, these delays can be devastating.
Delays often occur due to several intermediaries, manual verification processes and payment delays between banks and financial institutions. In rural areas, beneficiaries may also have to travel long distances to reach an agent or bank branch to access their funds, adding time, cost and disadvantages to the process.
Another important challenge is the limited scope of banking services in many African nations. Although urban populations can have relatively easy access to financial institutions, rural communities and badly served often do not do so. According to the African Development Bank, more than 60% of adults in sub -Saharan Africa do not remain banished.
This financial exclusion means that many beneficiaries are forced to rely on informal channels or cash systems, which are more risky, less safe and more difficult to follow. In places where the adoption of mobile money is low or where the cash collection locations are rare, access to the funds given becomes a major challenge.
Send the application to remedy the challenge of sending funds to Africa
The Send application, launched in 2021 by Fintech Unicorn Flutterwave, serves Africans in the diaspora, allowing them to transparently send money to families, friends and businesses at home and beyond.
Since its launch, the application has fulfilled its mission to provide a quick, transparent and secure means for the African diaspora to fill the distance, strengthen bonds and connect with the house.
Sending the application, recently launched in Ghana this year, has also extended to several African countries, notably Malawi, Egypt, Senegal and Zambia, with local licenses guaranteeing compliance and transparent integration with mobile silver platforms.
Key characteristics of the application Send
Global reach and multi-money support
Sending the application supports transfers in more than 30 countries, including African countries such as Nigeria, Ghana, Kenya, Ethiopia, Senegal, Malawi and Egypt, as well as European countries such as Austria, Belgium, France, Germany and Spain. Users can send money to more than 30 currencies, which makes it versatile for global transactions.
Speed
In 2024, 98% of the application transactions were completed in less than five minutes, making it one of the fastest payment solutions available.
Several transfer options
The recipients can receive funds via local bank accounts, mobile money portfolios or cash collection locations, offering flexibility depending on the recipient preferences and regional infrastructure.
Payment methods
Users can finance transfers using debit cards, credit cards, bank transfers, Apple Pay or Google Pay (Google Pay is only on the web). Once payment is confirmed, transactions are treated instantly.
User -friendly interface
The application is rented for its intuitive navigation, which facilitates the initiation and monitoring of transfers. Functionities such as updates to the exchange rate in real time, an activity section for transactions monitoring and a good / reference codes section improve the user experience.
Safety and conformity
Powered by the ISO 27001 and 22301 certified infrastructure from Flotterswave, the Send application provides robust security, exceeding industry standards. It conforms to PCI DSS and includes partnerships with institutions such as the Nigeria EFCC to fight against fraud. Flutterwave stresses that he never requests sensitive information such as card details or OTP via unofficial channels.
Integration exchange
In February 2025, send a swap integrated into the application, allowing Nigerian users to exchange nairas for foreign currencies (USD, GBP, EUR) and send money abroad in the same application. This eliminates the need of several platforms, rationalizing the exchange of currencies and transfers.
Send the EDGE competitive application
With an in -depth understanding of the African needs of the diaspora, Send App stands out on a crowded payment market which includes major players like World Remit, Wise and Sendwave, among others.
The application covers unique payment cases, such as sending funds for “bride prices”, which experienced an increase of 86.37% of these transactions, from February to March 2024, reflecting its alignment with African traditions.
By aligning with the municipal, emotional and cultural needs of Africans, send the application surpasses the competitors, positioning themselves as the essential platform for Africans who refer money to them.
Conclusion
The Send of Flutterwave application is more than a money transfer tool; It is a bridge connecting Africans worldwide to their roots. With its robust features, its range of scope and its commitment to security, it allows users to send money quickly and reliably, strengthening Flutterwave’s mission to unite Africa through payments.
By combining technology, affordability and convenience, the application redefines experience of versions, bringing Africa closer to a financially inclusive and interconnected future.
