Africans now have an innovative means through which they can get registered with the
Financial Intelligence Centre (FICA).
TechInAfrica – With just a selfie, South African fintech startup Mama Money is making the process fun and easy. Want to make cross-border transfers to South Africa, Zimbabwe, Nigeria, Malawi, Kenya, Ghana, Tanzania, Ethiopia, Uganda and even India? You no longer need to send tons of documents to prove your identity. With Mama Money, you just need to send a picture of your identification document (National ID or passport), and a selfie of yourself holding the same document.
According to Raphael Grojnowski, co-founder of Mama Money, financial services in South Africa are “very difficult to access for migrants who are earning money from informal jobs.” Grojnowski notes that with the new and simple registration process, his institution not only helps such individuals send money back home easily and affordably, it also eliminates the worry of providing documentations they may not have.
To save even more stress, Mama Money has made it possible for its users to get
registered at PEP stores or with Mama Money agents. Mama Money is great for foreigners, but it could also be quite resourceful for locals. FICA registration can sometimes be a long and painstaking process. With the Mama Money solution, things just got a lot more fun and easy, and people are wondering why such an idea didn’t exist a long time ago.
Want to send money to friends and family in Africa (or India) at a considerably cheaper rate? You really should check out the Mama Money app on the Google Play Store. With just 5% of the amount being sent, it could very well be the best option for you (given that you don’t need to undergo the verification hurdles).
It will certainly be a great idea to search the internet for other options. If you do, ensure
that you go through the Mama Money website. You sure will find it interesting.