NAIROBI, Kenya, July 4 – UK-based International money transfer service, Worldremit has ceased its operations in Uganda, and users can only receive but not send money from the East African nation.
In a statement, the Bank of Uganda noted that the firm voluntarily ceased its business.
“The public is notified that the closure of WorldRemit Money Transfer Limited as a company will not affect the world remit money remittance product offered by several supervised by financial institutions in Uganda,” a statement issued read in part.
It urged all customers with outstanding claims for monies given to WorldRemit to submit claims, with evidence, to the office of the Director Non-Bank Financial Institutions Department at the Bank of Uganda.
The Uk based firm clarified that all transactions sent from Uganda before June 6 2022 will be processed as normal, and customers will continue to receive SMS email updates.
“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 work,” the firm said in a statement shared to newsrooms.
WorldRemit said that while the firm seeks to continue its goal to ensure it is offering the greatest value for our customers around the world, it will” occasionally have to make difficult decisions that impact a small number of customers.”
“As part of our strategy, we have 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,” the firm said.
