LemFi Gets Approved for Remittance Services in Kenya

LemFi, a cross-border digital platform, has received approval to offer remittance services in Kenya. The approval is great news for both Kenyans in the diaspora and the service provider.

LemFi is a digital platform that lets people in the diaspora send and receive funds back home. The service makes financial transactions in Kenya easier.

LemFi Gets CBK’s Approval

Additionally, LemFi allows clients to open accounts in different currencies in minutes. Also, the platform allows clients to send money across the globe with zero fees.

The app has more than a million users, which signifies its credibility. However, the fintech company requires the approval of the Central Bank of Kenya (CBK) to operate remittances in the country.

LemFi got approval to continue its operation in Kenya, which allows Kenyan citizens to enjoy the full potential of the digital platform.

The digital platform seeking approval from CBK reveals the dedication it has to provide secure and efficient services, which aligns with the regulatory framework of Kenya.

LemFi Allows Transactions With Zero Fees in Kenya

With the approval, clients can make transactions with the best exchange rates available and other features promised. The app provides a Kenya Shillings wallet setup, which allows users to fund accounts with mobile money. The Kenya Shillings can be exchanged for foreign currencies available on the platform.

Kakea Mbacha, the company’s Country Manager, emphasized that there would be no transaction transfer fees on the app. Furthermore, she stated the company’s goal is to offer Kenyas a seamless service done instantly with no hassle.

Additionally, she said, “When Africans leave their countries to work, study, or live abroad, they still maintain family, business, and friendship connections back home. These connections are often maintained through communication and the need for effective ways to send and receive items and money from home. It is for this reason that LemFi exists.”

LemFi To Expand More

In February 2024, LemFi obtained approval from the Bank of Ghana (BOG) to offer its remittance services in Ghana. The dedication the fintech has signifies the company’s observant nature in nurturing and providing solutions for African financial needs.

The platform provides innovative services and products in both local and international markets. Apart from the African region, LemFi is currently available in the United Kingdom, Canada, and the United States. Furthermore, the company plans to expand its services.

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