Flex Money Group secures Forex and International Money Remittance licenses in Uganda

Kampala, Uganda | THE INDEPENDENT | Flex Money Group, a leading remittance provider in Africa, has expanded its operations into Uganda with the acquisition of both Forex and International Money Remittance licenses.

Operating under the brand name InstaRemit, the company has also opened its first customer engagement centre in Kampala.

This strategic move aligns with Uganda’s position as one of Africa’s largest recipients of remittances. Flex Money Group aims to revolutionize cross-border transactions by offering faster, more secure, and convenient remittance services to Ugandans both locally and abroad. Riyaz Naghoor, CEO of Flex Money Group, emphasised the importance of Uganda in the company’s regional plans:

“Uganda stands at the heart of our focus markets in Sub-Saharan Africa. Our innovative omnichannel approach, which combines physical branches with cutting-edge digital cross-border payment solutions, uniquely positions us to meet the needs of this vibrant market,”

“Uganda, being one of the largest receiving remittance markets in Africa, presents a huge opportunity for us to enhance the efficiency of both inward and outward remittances. We don’t just send money; we deliver happiness. With our operations in Uganda, we are ready to amplify this impact further,”

The company’s plans include the opening of five more customer engagement centres across Uganda over the next year. These new centres will enable Flex Money Group to bring its services closer to customers and create a seamless experience for those using their remittance services.

“Flex Money Group extends its heartfelt gratitude to the regulators for their support in this endeavour. This licensing is a testament to our commitment to expanding our local and international footprint,” said the company in a statement.

As Flex Money Group deepens its footprint in Uganda, it aims to set a new standard for secure, fast, and reliable remittance services. By integrating both physical branches and digital platforms, the company offers a holistic approach that ensures funds sent from the diaspora reach recipients swiftly and securely.

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