Western Union, a cross-border payment service provider, has opened a new office in the African country of Ivory Coast.
The company has been offering money transfer services in Ivory Coast since 1995.
Currently, the service can be availed in the country through more than 1,600 agent locations as well as bank accounts and mobile wallets.
Western Union Global Money Transfer president Odilon Almeida said: “We are uniquely positioned at the intersection of digital and retail and are proud to be investing our resources to support and serve the local economy and customer base. This office will serve as the regional hub for West Africa.”
Ivory Coast, with one of the highest economic growth rates in Africa, has a significant influx of migrant workers from various West African nations, according to World Bank.
“Ivory Coast is a flourishing economy and in line with our strategy to connect digital with the physical, combining our online presence with our retail distribution network, we are very pleased to be setting up our office in-market, affirming our commitment to the Ivorian community and our agents,” Almeida added.
In Africa, Western Union has an extensive network of more than 40,000 agent locations. Overall, it has more than 550,000 retail agent locations globally.
Last year, the company is said to have transferred $300bn in principal in around 130 currencies.