Equity Group and Zepz, the powerhouse behind leading global remittance brands WorldRemit and Sendwave, have announced the renewal of their longstanding partnership. This agreement reaffirms their commitment to providing Equity Group members in Kenya, Tanzania, Uganda, and soon the Democratic Republic of Congo (DRC), Rwanda, and South Sudan with secure, convenient, and affordable ways to send and receive international money transfers.
The collaboration between Zepz, formerly known as Paga Group, and Equity Group dates back to 2018, initially established through Equity Bank Kenya. This partnership has empowered millions of customers globally to send and receive money transfers digitally, leveraging the extensive network of partners within the Equity ecosystem.
The renewed agreement capitalizes on Zepz’s best-in-class APIs and integration solutions, coupled with Equity Group Holdings’ strong digital and physical payout networks across their six banking subsidiaries. With a target of one million transactions per month, this partnership will ensure seamless delivery of funds directly into mobile wallets and Equity bank accounts.
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Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings, commented on the renewed partnership with Zepz, highlighting its strategic significance. He emphasized the shared vision of pioneering innovative payment solutions for Africa.
“This partnership, rooted in deliberate intent and purpose, signifies our shared strategic vision to pioneer innovative solutions in the payments space for the African continent. By harnessing the unique competencies and capabilities of both institutions, we aim to revolutionize payment solutions across the continent as a support to achieving the Africa Recovery and Resilience Plan. This partnership will enable us to facilitate trade linkages across the region by enabling person-to-person, person-to-government, person-to-business, and business-to-business payments.” Dr. James Mwangi said.
Zepz CEO, Mark Lenhard, expressed optimism about the partnership’s potential to bolster the adoption of WorldRemit and Sendwave remittance services in the region.
“We have a resolute conviction in the transformative potential this partnership holds for our customers transferring money into and across the Africa region. We look forward to leveraging Equity’s position in Kenya and throughout the East African Community to grow our market share and further expand into new countries with Equity as it continues to grow its footprint across Africa.” he said.
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Dr. Mwangi further emphasized the timeliness of this partnership as the region evolves into Africa’s most integrated economic zone.
“As our operational region evolves into the continent’s most integrated area, this partnership couldn’t have come at a better time. We envision it as a catalyst for further integration and reliable services, particularly enhancing cross-border trade by leveraging the synergies between Equity and the Africa Free Continental Trade Area.” he added.
Zepz’s digital platform ensures secure and swift money transfers, while their broader network through WorldRemit and Sendwave offers senders greater flexibility. Customers can choose to receive funds directly into their Equity Bank mobile wallets or bank accounts and benefit from competitive foreign exchange rates.