DTB and Xpress Money sign money remittance partnership

Diamond Trust Bank Uganda today announced a partnership with Xpress Money, an international money transfer service, aimed at simplifying and expanding remittance access for Uganda’s diaspora community.

The partnership seeks to promote financial inclusion and close gaps for millions who rely on remittances, according to executives who made the announcement in Kampala.

Customers can now send money to over 170 countries through secure, convenient, and efficient access at DTB branches across Uganda.

DTB’s Chief Executive Officer, Godfrey Sebaana, said, “We are thrilled to join hands with Xpress Money to boost our remittance offerings. At DTB Uganda, we continually seek ways to add value for our diaspora customers, and this collaboration provides an ideal platform for efficient and seamless remittances. With Xpress Money’s extensive network, our customers can easily support their loved ones, regardless of distance.”

Uganda is one of the largest recipients of remittances in Sub-Saharan Africa, with inflows of up to $1.4 billion in 2023, representing nearly 3% of the country’s GDP (source: Bank of Uganda).

These financial resources are essential lifelines for families and communities, helping to cover necessities such as school fees, healthcare, and housing.

Given Uganda’s status as a top remittance recipient in the region, this partnership will enhance access to these crucial financial flows, contributing to a more financially inclusive economy, executives added.

Xpress Money CEO Samir Vidhate also expressed optimism about the collaboration: “Our partnership with DTB Uganda reflects our commitment to providing convenient, secure remittance options for customers globally. Together, we aim to simplify remittances and strengthen the connection between families across borders. We are pleased to offer the service at competitive rates.”