TerraPay and Diamond Trust Bank Uganda (DTBU) have formed a strategic partnership to expand international money transfers and strengthen financial inclusion in Uganda. Together, both firms will deliver benefits to customers worldwide. The key attributes of this partnership include the ability to facilitate direct account deposits from any part of the world and leverage DTB’s brand name to optimise advantages for customers across the globe.

One of the key goals of the partnership is to narrow the financial inclusion gap, streamlining the processes of money transfer, savings, and credit accessibility for individuals. By forging this collaboration with TerraPay, Diamond Trust Bank Uganda will witness an expansion in its customer base for international money transfers, consequently bolstering direct international investments within the nation.

Simplifying global money transfers in Uganda

This initiative will greatly benefit customers and expatriates residing in the United Arab Emirates, United Kingdom, the United States, Kenya, Germany, Qatar, Canada, and Europe, granting them the capability to execute real-time money transfers to people in Uganda, a pivotal hub within this partnership. Simultaneously, TerraPay will extend its global outreach through this association with DTBU, simplifying digital cross-border money movement for both individual consumers and businesses alike. As a result, individuals will enjoy swifter and more seamless person-to-person remittances, while businesses can anticipate streamlined payouts spanning an extensive network of 140 recipient countries..

Willie Kanyeki, TerraPay’s Vice President, East and South Africa, said, “We are excited to partner with Diamond Trust Bank Uganda to expand our reach in East Africa and make it easier for people to send and receive money across borders. This partnership will help us achieve our goal of providing everyone with access to affordable, reliable financial services.

“Diamond Trust Bank Uganda is a well-respected bank with a strong track record of providing excellent customer service. We are confident that this partnership will be a success and will help promote financial inclusion in the region, by simplifying global money movement for both individuals and businesses, making it easier than ever to connect with loved ones and also, empower global commerce.”

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