SimbaPay has revealed the expansion of its free instant deposit service to Choice Microfinance Bank in Kenya. SimbaPay has partnered with Choice Microfinance Bank a microfinance institution founded by Kenyans abroad.
According to Victor Karanja, Head of Operations for SimbaPay: “Money transfers made to Choice Microfinance Bank by Kenyans living abroad using SimbaPay will be free of transfer fees. In addition, the recipient Choice Microfinance Bank accounts will be credited instantly.”
Stanley Kasyoka, Deputy CEO at Choice Microfinance Bank added that: “We are very excited about this new partnership with SimbaPay which is heavily engaged with the economic force that is Kenyans living abroad. Kenyans abroad are the country’s largest earner of foreign exchange today”.
SimbaPay and Choice Microfinance Bank announced the partnership in London at the annual “Kenya in the Park” event where they also exhibited the service.