MONEYGRAM TO FIGHT WESTERN UNION FOR AFRICAN MARKET

Updated: 11/24/2008 18:39
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MoneyGram money remittance service has announced the launch of company services in Africa. According to the recent press release issued by

MoneyGram money remittance service has announced the launch of company services in Africa. According to the recent press release issued by the US money transfer company before the end of this month MoneyGram will start operating on Angola market and thus will increase its share of the African market. It is necessary to note that the market of this African country is a desirable one. Another giant on money transfer services Western union has already came to this country and has had an agreement with 21 agents. According to the statistics the volume of the money transmitted to this country is constantly increasing. The main remitters live in Portugal and Brazil.

According to Pia Marangoni, Marketing Director of MoneyGram International one of the company?s agents will be Angolan National Bank which will represent the company on the local market via all its subsidiaries. The service will be provided in three currencies ? euros, dollars and kwanzas, the national currency of Angola.


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