WorldRemit reassures Ugandan customers following June exit

July 5, 2022 in Financial Services by Editor

WorldRemit Money Transfer has once again clarified that although the company closed its Ugandan office in early June, customers can still access their services through recognized partners.

In a statement issued today, the company said, ‘As of 6th June 2022, WorldRemit, a leading digital payments platform will not be facilitating any new outbound/send transactions from Uganda. Customers receiving funds in Uganda are not affected by this decision and will be able to continue to receive funds via the WorldRemit service without disruption through the company’s existing partner network’.

In a related statement the financial regulator, Bank of Uganda (BoU) further added that: ‘The public is notified that the closure of WorldRemit Money Transfer (Uganda) Limited as a company will not affect WorldRemit money remittance products offered by several supervised financial institutions in Uganda’.

Explaining their exit, WorldRemit said it maintains the continued goal of offering the greatest value for its customers around the world and to do so, occasionally the company has to make difficult decisions that impact a small number of customers. As part of the strategy, WorldRemit therefore decided to no longer support outbound money transfers from Uganda, as well as a handful of other countries across the world. Customers in these countries will however continue to be able to receive money through WorldRemit from abroad.

BoU has requested WorldRemit customers in Uganda who have been expecting funds through the company, but have not done so, to send their claims and the associated evidence to the Office of the Director Non-Bank Financial Institutions Department at BoU by July 18, 2022.