GCB partners Ria International to ease money transfer

Remittances into Ghana has been made easy and convenient following a partnership between GCB Bank Limited and international money transfer company, Ria International.

The partnership signed on Tuesday, would afford Ghanaians the opportunity to transfer money to their families back home from 147 countries and over 272,000 locations worldwide.

The partnership would also enable GCB customers in and outside the country to remit money directly into their account.

Mr. Simon Dornoo, Managing Director of GCB Bank said the relationship would help the bank’s role in facilitating transfer of money to the remotest areas in the country to sustain livelihoods.

“With an expertise in the inbound remittance service through the largest network of 157 branches locally, this agreement with global brand Ria, well-positions GCB as the leading partners in the money transfer business in Ghana,” the Managing Director of GCB said, adding, “Ria’s global network will afford GCB the opportunity to mobilise remittances from Ghanaians in the diaspora for their relatives at home.”

The Greenback 2.0 report published in July this year and sponsored by the World Bank indicated that remittances are expected to reach US$440 billion in 2015.

Remittances are 3 times higher than official development assistance to developing countries. “That means migrants send more money to their home countries than what donor agencies send by way of grants,” Mr. Dornoo explained.

El Hadji Malick Seck, Managing Director of Africa for Ria, lauded the agreement and said he was certain the partnership will be mutually beneficial.

He said Ghana is key to Ria because of the volume of remittances that come into the country.

Operations Director of Africa Ria, Robert Kotei was hopeful the partnership will bring cutting edge solution to the money transfer sector in Ghana.

The first customer of the partnership Thomas Owusu who received GHC3,877.16 remittance from Israel was rewarded with a cheque of GHC2,000.