This arrival of Tranglo in the Cameroonian market coincides with a strong growth in cross-border payments in the country, driven by the diaspora. According to Statista, a statistics and market data portal, personal remittances to Cameroon increased by 7% in 2023, reaching a record $600 million. This represents an increase of $40 million compared to the previous year.Despite this massive adoption, international transfer services via mobile money remain limited. However, mobile money has been successful. According to the results of the 5th Cameroonian Household Survey (Ecam5), published in May 2024 by the National Institute of Statistics (INS), the use of mobile money services has increased significantly, from 29.9% in 2017 to 42.7% in 2022 for the population aged 15 and over.Tranglo positions itself as a strategic partner to fill this gap, offering local players tools to compete with traditional players such as Western Union and MoneyGram, whose costs are often considered high, or applications like WorldRemit and Tap Tap Send, known for their simplicity, speed, and competitive fees.By adopting Tranglo's technology, operators like Orange and MTN, which offer mobile wallet services through their Orange Money and MTN Money services, could not only expand their customer base but also develop new international money transfer services, generating additional revenue in an increasingly competitive marketIt is worth noting that while these operators allow users to receive money directly on their phone and withdraw it at service points, In Africa, many adults remain excluded from basic financial services. Integrating Tranglo into e-wallets ensures fast and secure transfers in local currencies, reducing financial inequalities in underserved communities," said Jacky Lee, CEO of Tranglo Group.The group claims a global network of 250 mobile operators, over 1,500 banks/wallets, and 60 cash pickup services, with thousands of touchpoints. In addition to facilitating peer-to-peer transfers, this integration also aims to provide a reliable solution for businesses to make payments in over 100 countries.

 Christelle koambi.