{"id":84164,"date":"2025-08-15T17:58:40","date_gmt":"2025-08-15T17:58:40","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/capitec-and-mama-money-cut-remittance-fees-for-families"},"modified":"2025-08-15T18:53:00","modified_gmt":"2025-08-15T18:53:00","slug":"capitec-and-mama-money-cut-remittance-fees-for-families","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families","title":{"rendered":"Capitec and Mama Money Cut Remittance Fees for Families"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>South Africa\u2019s largest digital retail bank, Capitec, has teamed up with the remittance fintech, Mama Money, to dramatically reduce the cost of cross-border money transfers, providing a vital financial lifeline for the 2.4 million migrant workers in the country.<\/b><\/p>\n

This partnership represents a significant milestone in African fintech. With remittance fees across the continent typically ranging between 8\u201312%, this new offering cuts costs down to as low as 5%, enabling transfers to be completed within minutes rather than days.<\/p>\n

\u201cFor someone earning a minimum wage, a R150 fee to send R1,000 home severely impacts a family\u2019s ability to survive,\u201d explained Mathieu Coquillon, Co-Founder of Mama Money. \u201cWe\u2019re changing that.\u201d<\/p>\n

A Solution to a Longstanding Challenge<\/p>\n

Migrant workers from countries such as Kenya, Lesotho, Malawi, Mozambique, Uganda, Zambia, and Zimbabwe have long struggled with high fees, complex paperwork, and limited digital options for sending money back home.<\/p>\n

Capitec\u2019s integration with Mama Money removes much of this friction. Customers can easily log into the Capitec mobile app, choose Mama Money, and generate a 12-digit Universal Mama Money Token. The recipient, who does not need a bank account, receives an SMS and can collect the funds from partner banks or agents in over 70 countries.<\/p>\n

This is a simplified solution that is fully POPIA- and FICA-compliant, transparent in its pricing, and tailored to meet the real-world challenges faced by African users.<\/p>\n

Empowering Families, Especially Women<\/p>\n

Women make up almost half of South Africa\u2019s migrant population, with many serving as the primary breadwinners for their families in neighboring countries. By reducing remittance fees and simplifying access, the Capitec-Mama Money partnership directly fosters gender-inclusive financial empowerment.<\/p>\n

\u201cSupporting families across borders is a fundamental aspect of African communities,\u201d said Francois Viviers, Group Executive for Marketing and Communications at Capitec. \u201cHistorically, this process has been expensive and complicated. Now, we\u2019re offering a solution that is straightforward, affordable, and transparent\u2014values that are core to our banking philosophy.\u201d<\/p>\n

The Advantage of Fintech: Scalable, Digital, and Reliable<\/p>\n

Founded in 2015, Mama Money has earned a solid reputation as one of Africa\u2019s most reliable cross-border payment providers, facilitating millions of transactions to over 70 countries. Its expertise in low-fee, digital-first transfers aligns perfectly with Capitec, whose 24 million customers rely on simple, low-cost digital banking services.<\/p>\n

For fintech startups observing this space, this partnership highlights a major trend: traditional banks are increasingly integrating fintech-driven solutions to serve overlooked segments of the market, especially those in the informal economy and among the underbanked.<\/p>\n

\u201cThis is about dignity and fairness,\u201d said Coquillon. \u201cWe\u2019re providing people with the tools they need to support their families, build resilience, and participate in the digital economy\u2014regardless of their background or income level.\u201d<\/p>\n

A Larger Shift Toward Financial Inclusion<\/p>\n

As fintech continues to evolve across Africa, collaborations like this are a clear sign of what\u2019s to come: a growing trend where established financial institutions and startups join forces to tackle deeply ingrained financial challenges. With Capitec\u2019s broad digital reach and Mama Money\u2019s remittance technology, this partnership is more than just a product; it is a signal that financial services in Africa are finally being designed to meet the needs of those who require them most.<\/p>\n

For More News And Analysis About Gambia<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. South Africa\u2019s largest digital retail bank, Capitec, has teamed up with the remittance fintech, Mama Money, to dramatically reduce the cost of cross-border money transfers, providing a vital financial lifeline for the 2.4 million migrant workers in the country. This partnership represents a significant milestone in African fintech. With remittance fees across […]<\/p>\n","protected":false},"author":84,"featured_media":84163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[260],"class_list":["post-84164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-gambia"],"yoast_head":"\nCapitec and Mama Money Cut Remittance Fees for Families - Gambia<\/title>\n<meta name=\"description\" content=\"South Africa\u2019s largest digital retail bank, Capitec, has teamed up with the remittance fintech, Mama Money, to dramat ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capitec and Mama Money Cut Remittance Fees for Families\" \/>\n<meta property=\"og:description\" content=\"South Africa\u2019s largest digital retail bank, Capitec, has teamed up with the remittance fintech, Mama Money, to dramat ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-15T17:58:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-15T18:53:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/08\/sm_1755271106.715132.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"758\" \/>\n\t<meta property=\"og:image:height\" content=\"404\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Capitec and Mama Money Cut Remittance Fees for Families\",\"datePublished\":\"2025-08-15T17:58:40+00:00\",\"dateModified\":\"2025-08-15T18:53:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families\"},\"wordCount\":554,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/08\/sm_1755271106.715132.jpg\",\"keywords\":[\"Gambia\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/capitec-and-mama-money-cut-remittance-fees-for-families\",\"name\":\"Capitec and Mama Money Cut Remittance Fees for Families - 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