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Kampala, Uganda | THE INDEPENDENT | Diamond Trust Bank Uganda today (Nov.12) announced a partnership with Xpress Money, an international money transfer service, to simplify and expand remittance access for Uganda’s diaspora community.
“We are thrilled to join hands with Xpress Money to boost our remittance offerings,” said DTB Uganda’s Chief Executive Officer, Godfrey Sebaana, during the announcement in Kampala. “At DTB Uganda, we continually seek ways to add value for our diaspora customers, and this collaboration provides an ideal platform for efficient and seamless remittances. With Xpress Money’s extensive network, our customers can easily support their loved ones, regardless of distance.”
Xpress Money’s CEO, Samir Vidhate, also expressed enthusiasm for the partnership. “Our collaboration with DTB Uganda reflects our commitment to providing convenient, secure remittance options for customers globally,” Vidhate shared. “Together, we aim to simplify remittances and strengthen the connection between families across borders. We are pleased to offer the service at competitive rates.”
This partnership, announced by Diamond Trust Bank Uganda, aims to expand remittance access for Uganda’s diaspora, promote financial inclusion, and close critical gaps for millions who rely on remittances. Customers will be able to send money to over 170 countries worldwide, utilizing DTB’s secure and efficient service at branches across Uganda.
As one of the largest recipients of remittances in Sub-Saharan Africa, Uganda received an estimated $1.4 billion in remittances in 2023, which equates to nearly 3% of its GDP, according to the Bank of Uganda.
These funds provide crucial financial support for families and communities, covering essential needs like school fees, healthcare, and housing.
Executives highlighted that, given Uganda’s position as a top regional remittance recipient, this partnership will enhance access to critical financial resources and support a more financially inclusive economy for all.
