Enter your email address below and subscribe to our newsletter

CBK Approves LemFi’s Money Transfers to Kenya in Partnership with Flex Money Transfer

By Oluchukwu Ikemefuna

Share your love

Kenyans living abroad can now breathe a sigh of relief as a new, secure, and efficient money transfer option has been officially approved. 

The Central Bank of Kenya (CBK) has granted additional regulatory approval to LemFi, a financial technology company, to facilitate money transfers directly into Kenya. 

This significant development comes through a strategic partnership between LemFi and Flex Money Transfer, a trusted Kenyan money transfer provider.

Building on a Strong Foundation

LemFi, operated by RightCard Payment Services Limited, has already established itself as a user-friendly platform for Kenyans in the diaspora. 

CBK Approves LemFi’s Money Transfers to Kenya in Partnership with Flex Money Transfer

Launched in June 2023, their mobile application, simply called LemFi, offers a seamless way to send money back home. 

This CBK approval marks a crucial step forward, allowing LemFi to expand its services and empower Kenyans abroad to support their loved ones back home.

Transparency and Security at the Forefront

The partnership between LemFi and Flex Money Transfer underscores their commitment to providing secure and transparent money transfer services.  

Obtaining CBK approval signifies that both companies adhere to the strict regulatory framework established by the Central Bank. 

This ensures that users’ financial information and transactions are protected by the highest security standards.

A Streamlined Remittance Experience

LemFi promises a revolution in Kenya’s remittance landscape. 

Through their user-friendly app, Kenyans living in countries like the United States, Canada, and the United Kingdom can send money directly to M-PESA wallets, mobile money accounts, and even bank accounts in Kenya. 

This eliminates the need for complex procedures and guarantees a fast and efficient transfer process.

Read More: LemFi Hires Allen Qu, Ex OPay COO, to Lead China Expansion

Competitive Rates and Zero Fees

LemFi aims to make sending money home to Kenya a more cost-effective experience.  

They boast competitive exchange rates, ensuring that more money reaches the intended recipients.  

Furthermore, to incentivize users and make the service even more attractive, LemFi currently offers zero transfer fees. 

This can be a significant advantage compared to traditional money transfer services that often come with hidden charges.

Looking Ahead: A Brighter Future for Kenyan Remittances

The CBK’s approval of LemFi’s partnership with Flex Money Transfer is a positive step for Kenyans both at home and abroad. 

This collaboration introduces a secure, user-friendly, and cost-effective way to send money, directly benefiting the Kenyan economy by increasing remittance inflows. 

With its focus on transparency, security, and competitive rates, LemFi is poised to become a major player in Kenya’s remittance market, offering a brighter future for Kenyans who rely on financial support from loved ones abroad.

Was this information useful? Drop a nice comment below. You can also check out other useful contents by following us on X/Twitter @siliconafritech, Instagram @ Siliconafricatech, or Facebook @ Silicon Africa.

Share your love
Oluchukwu Ikemefuna
Oluchukwu Ikemefuna

Oluchukwu Blessing Ikemefuna, a talented content writer from Anambra, Nigeria, found her writing passion in secondary school. Holding a degree in Biological Sciences from Federal University of Technology, Owerri, she specializes in blog writing across technology, finance, healthcare, education, and lifestyle sectors. With strong research and SEO skills, Oluchukwu creates engaging content globally. Her work aims to inspire and engage authentically while driving action. Outside work, she enjoys travel, reading, and movies as she grows as a skilled writer.

Articles: 341

Newsletter Updates

Enter your email address below and subscribe to our newsletter

Stay informed and not overwhelmed, subscribe now!