By
Fahad Muganga
Diamond Trust Bank (DTB) Uganda has formed a strategic partnership with Xpress Money, an international money transfer service, to streamline and broaden access to remittance services for Ugandans abroad. The collaboration aims to strengthen financial inclusion, easing remittance access for millions who rely on funds from the diaspora.
This partnership enables people worldwide to send money to their loved ones in Uganda through Xpress Money’s extensive global network. Customers can now send funds to over 170 countries through secure, convenient, and efficient services available at DTB branches across Uganda.
Speaking at a press conference at DTB’s head office in Kampala, DTB Uganda CEO Godfrey Sebaana expressed excitement about the partnership: “We are thrilled to join hands with Xpress Money to boost our remittance offerings,” he said
“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.”
Uganda is one of the largest recipients of remittances in Sub-Saharan Africa, with inflows reaching approximately $1.4 billion in 2023, or nearly 3% of the country’s GDP. These funds play a crucial role in supporting families and communities, covering essentials like school fees, healthcare, and housing. Given Uganda’s position as a major remittance recipient in the region, the partnership is set to enhance access to these vital financial resources, fostering a more inclusive economy.
As part of DTB Uganda’s strategic focus, digital transformation and strengthening diaspora banking are priorities. The bank seeks to expand its remittance services for the diaspora market by partnering with fintech leaders, with the alliance with Xpress Money being a significant step in this direction. Xpress Money offers various transfer options, including Cash-to-Cash, Account Credits, and Mobile Wallets.
Xpress Money CEO Samir Vidhate shared, “Our partnership with DTB Uganda reflects our dedication to providing convenient, secure remittance options for customers globally. We are pleased to extend our services to DTB Uganda’s customers, making it easier and more affordable for them to send money home. Together, we aim to simplify remittances and strengthen the connection between families across borders.”
Aligned with the United Nations Sustainable Development Goal 10 to reduce inequalities, this partnership aims to reduce remittance costs, increase disposable income, and narrow the financial inclusion gap.
About Xpress Money
Xpress Money is one of the foremost global money transfer brands with a strong presence across five continents. Since its establishment in 1999, Xpress Money has expanded to 180 countries, providing trusted remittance solutions under a holding company headquartered in the Abu Dhabi Global Market (ADGM). Offering various options, including Direct to Account, Mobile Wallet Credits, and Cash Payout, Xpress Money continues to be a reliable choice for secure cross-border transactions.