Dear MFS Africa partners, stakeholders, friends, and family,
Along with businesses the world over, we are keeping a close eye on the evolving global pandemic situation. We’re writing to update you on the precautions we are taking to protect our team and clients, and to share our view on implications for the business.
The industry as a whole has reacted responsibly, with conferences and events postponed, cancelled, or transformed into virtual meet-ups. All MFS Africa employees are working from home until further notice, with international travel restricted.
With travel restrictions in place, and expert guidance advising against unnecessary movements, being able to help friends and family who are far away is more important than ever. Research confirms that remittances typically spike in response to crises, and the ability to send this much-needed support only intensifies in the shadow of significant economic downturn. The effects of global recession are even more pronounced for SMEs and micro-entrepreneurs in emerging markets.
For migrant remittances, as well as for small businesses operating in uncertain times, it’s more important than ever to provide secure, real-time, low-cost digital payment services. Moreover, mobile money channels are an effective means to transact without compromising social distancing efforts.
MFS Africa has aligned with partners to reduce fees where possible, and increase sending limits in line with regulation. We are also putting in place plans to extend customer support coverage hours.
It is in times like these – when nations are shutting their borders – that we focus on our opportunity for impact, and redouble our efforts to make borders matter less.
We thank you for your support, and we wish you all health and safety in the weeks ahead.