LemFi Launches: New Player Charges Zero Fees For Diaspora Remittances

LemFi, a cross-border payment solution provider, officially launched its services in Kenya today, marking a significant milestone in the international money transfer market. With its innovative solutions and zero fees for transactions, LemFi aims to revolutionize the way the diaspora community sends and receives money back home.

Customers residing in the United Kingdom, United States, and Canada can now access LemFi’s services by downloading the LemFi app. The app allows users to send funds directly to bank and mobile money accounts in Kenya without incurring any fees. Furthermore, the app supports multiple currencies through different wallets, enabling customers to deposit money into various accounts and manage their finances conveniently.

Kenyan Shilling Wallet:

One of the key features of the LemFi app is the provision of a Kenya Shillings wallet, allowing customers to open and fund their accounts via mobile money services. Once the Kenya Shillings wallet is set up, users can easily convert their funds to other currencies such as USD, GBP, and CAD, depending on their specific transactions.

LemFi’s primary target audience comprises over 500,000 Kenyans living abroad, with the United States, United Kingdom, and Canada being the most popular destinations. By offering a comprehensive range of fintech services, LemFi aims to provide Kenyans with a seamless and instant money transfer experience at the best forex rates available.

During the launch event held in Nairobi, LemFi Country Manager Kakea Mbacha emphasized the importance of maintaining connections with family, friends, and businesses back home for Africans residing overseas. Mbacha stated, “It is for this reason that LemFi exists,” highlighting the company’s commitment to facilitating efficient and reliable means of sending and receiving money and items from home.

Pesa Swap partnership:

To ensure smooth operations in Kenya, LemFi has partnered with Pesa Swap, a renowned local online and mobile payment solutions company based in Nairobi and the United Kingdom. Pesa Swap specializes in offering locally relevant and alternative payment methods for global, regional, and local merchants, providing essential support for LemFi’s services in the country.

Kakea further announced that LemFi’s services would be fee-free, emphasizing their dedication to enabling Kenyans in the diaspora to send money home instantly and at the most favorable rates. The collaboration between LemFi and Pesa Swap aims to empower individuals to access affordable money transfer services, allowing them to contribute to the economic well-being of their families and communities.

Commenting on the growth of diaspora remittances, Pesa Swap CEO Chris Munyasya highlighted the significant increase observed in the last financial year, with 50% of the remittances being sent by women. Munyasya stressed the importance of providing affordable money transfer services to empower individuals and ensure a steady flow of funds back to Kenya.

LemFi’s commitment to customer satisfaction and continuous improvement is evident through its efforts to gather direct feedback from its users. In partnership with the Stoke UK Diaspora SACCO, LemFi celebrated the Jamhuri Day Eve last year, providing customers with an opportunity to engage with staff members and share their insights on how to enhance the product’s functionality for their benefit.

The launch event also featured the appointment of the talented comedian Blessed Njugush as LemFi’s brand ambassador. Njugush will collaborate closely with LemFi to promote the company’s services and products among the Kenyan diaspora. His involvement will extend to lending his voice to LemFi’s marketing campaigns and initiatives, further amplifying the brand’s reach and impact.

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