Innovation

Let mama handle your money

The startup with a heart as large as the African mothers it is named after.

03 November 2016

The cost of sending money across borders from South Africa to, well, anywhere, is famously expensive. For those who are earning small salaries and have families based elsewhere, the costs are nothing short of exorbitant. Many of those who rely on international money transfer facilities are using their hard-earned cash to improve the lives of those they left at home but this money is eaten into with bank charges and cost pricing structures. It’s as vicious a pincer grip as any South African scorpion. Until now...

In comes Mama Money, a South African startup founded by Raphael Grojnowski and Mathieu Coquillon to help people overcome the money transfer price tag. The company got its name from the African mothers who were often the most likely recipients of the money being sent overseas, and it focused its launch on Zimbabwe as it was the region that had the highest footprint in terms of money transfers and costs.

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