Flex Money Group, one of Africa’s leading remittance service providers, has obtained both forex and international money remittance licenses in Uganda, marking a significant milestone in its regional expansion strategy.
Trading under its brand name, InstaRemit, the company has also launched its first customer engagement center on Kampala Road, Crown House.
As Uganda ranks among the top African recipients of remittances, Flex Money Group’s entry into the market is expected to enhance cross-border financial services, focusing on speed, security, and an improved customer experience.
The company’s innovative omni-channel approach, which merges physical branches with digital payment solutions, is anticipated to meet the evolving demands of Ugandans locally and in the diaspora.
“Uganda stands at the heart of our focus markets in Sub-Saharan Africa,” said Riyaz Naghoor, CEO of Flex Money Group.
“With Uganda being one of the largest remittance-receiving countries on the continent, we see immense potential to improve the efficiency of both inward and outward transactions. Our mission is more than transferring money; it’s about delivering happiness to our customers.”
The company has ambitious plans to open five additional customer engagement centers across Uganda within the next year, strengthening its local presence.
In a statement, Flex Money Group expressed gratitude to regulators for their support, calling the licensing a testament to the company’s commitment to expanding its footprint both locally and globally.
Flex Money Group is poised to set new standards for fast, secure, and reliable remittance services by offering a holistic solution through its combined physical and digital channels.
This approach ensures that funds sent from the diaspora reach recipients promptly and safely, reinforcing the group’s mission to transform cross-border payments in Uganda.
