Pipit, a digital payments platform, has partnered with Pan-African fintech Cellulant to offer reduced-cost money transfers for African migrants in the EU. The collaboration targets 15 African nations, including Nigeria, Kenya, and Ghana, where cross-border remittances often exceed 20% in fees.
Current EU-to-Africa transfer costs average 9.5%, far above the UN’s 3% target. Pipit’s partnership with Cellulant aims to address this gap by leveraging a network of 1.1 million cash collection points across Africa, including 620,000 added through the collaboration.
Ollie Walsh, Pipit’s CEO, emphasized the initiative’s role in reducing financial barriers for African migrants. "Seventy percent of African migrants remain on the continent, yet cross-border fees are double those from the EU," he said. "This partnership makes sending money home safer and more affordable."
David Waithaka, Cellulant’s chief business officer, highlighted the technology-driven approach. "We’re building networks that connect resources with communities, ensuring digital payments meet the needs of users across Africa and the diaspora," he added.
The service allows users to send money to bank accounts, top-up e-wallets, pay bills, and facilitate e-commerce transactions in Africa. In the UK, over 28,000 PayPoint locations and 35,000 EU sites provide access to the platform.
The initiative aligns with growing demand for digital financial tools, accelerated by the pandemic. By 2025, an estimated 15 million Africans are projected to live abroad, increasing reliance on cost-effective remittance solutions.
