WorldRemit announces closure of send licence in Uganda

Digital payments platform WorldRemit has announced closure of outbound / send services from Uganda effective June 6, 2022.

This was announced in a statement released by the company on Tuesday.

“As of June 6, 2022, WorldRemit, a leading digital payments platform will not be facilitating any new outbound / send transactions from Uganda,” the company announced in a statement.

The development means customers in Uganda will not be able to send funds to other countries through the platform henceforth.

WorldRemit, however, noted that the decision will not affect customers receiving funds in Uganda via the platform.

The company said customers will be able to receive the funds through the existing partner network.

“Any transactions sent from Uganda before June 6, 2022 will be processed as normal, and customers will continue to receive SMS email updates. All users, both senders and receivers, can continue to access past transactions and recipient information, by logging into their account on the WorldRemit website.” WorldRemit noted.

The company explained that the decision to close outbound money transfers from Uganda was based on its continued goal to ensure offering the greatest value for its customers around the world.

WorldRemit says to achieve that, it has had to make difficult decisions that impact a small number of customers.

“As part of the strategy, WorldRemit therefore decided to no longer support outbound money transfers from Uganda, as well as a handful of other countries across the world.” the company explained.

This comes a day after Bank of Uganda advised customers with outstanding claims for monies given to WorldRemit for remittance purposes to submit them.

“Customers with outstanding claims for monies given to WorldRemit Money Transfer (U) Limited for remittance purposes should submit the claims, with evidence, to the office of the Director Non-Bank Financial Institutions Department at Bank of Uganda by July 18, 2022.” the central bank said in its statement issued on Monday.