Formally known as Lemonade Finance, LemFi has launched its operations in Kenya to enable the Diaspora community to send and receive money back home through its cross-border payment solution. LemFi has confirmed that the cross-border transactions will be at zero fees and will be instant into the digital wallet the recipient is using.
Customers in the UK, the US, and Canada can access the services through the LemFi app. Available on both the Google Play store and App Store, the app also supports the use of multiple currencies through various wallets that customers can open and deposit money in different accounts.
Furthermore, the app provides a Kenyan shilling wallet setup in which customers can open and fund their accounts via mobile money. Once open, the customer can easily change their Kenya Shillings to other currencies like USD, GBP & CAD depending on their transactions.
LemFi is targeting over 500,000 Kenyans living outside the country, with the US, UK and Canada being among the most popular destinations. Through its expansive set of fintech offerings, LemFi aims to provide Kenyans with the ability to seamlessly send money to family and friends back home instantly at the best forex rates.
Speaking at the launch event in Nairobi, LemFi Country Manager Kakea Mbacga said that Africans who leave their countries to work, study or live abroad, still want to maintain connections back at home.
“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,” she said.
LemFi is not alone in this, their operations in Kenya will be supported by their world-class partner, Pesa Swap – a local online and mobile payment solutions company based in Nairobi and the United Kingdom that provides locally relevant and alternative payment methods for global, regional and local merchants.
“Our services will not attract any fees as we strive to ensure that Kenyans in the diaspora can send money home instantly, at the best rates. This is the brand’s promise,” Kakea added.