Yesterday, I listened to a podcast by featuring Ham Serunjogi, the founder of Chipper Cash, an intra-Africa money transfer service. I here share a few notes and thoughts since it is an area I am interested in. By the way, relatably, Ham is Ugandan and went to school at Aga Khan, Mombasa, Kenya (I am proudly Kenyan 😉
What sucks? Sending money within Africa. Intra-Africa money transfer is a pain point. At 8.9% of the money sent, Africa has the highest remittance costs in the world. For every 100 dollars sent, around 9 dollars ends up as a cost.Â