David Wachira Ex-World Bank Specialist: A tech guru who formerly worked at the World Bank Group as public Finance and Governance Specialist- is set to launch WayaPay in Washington DC on Friday, September 16.
Wayapay is a full-service digital bank and money transfer application that enables easier transactions for Africans abroad planning to send money back home.
The fintech industry is picking pace in the global scene with various tech-based companies vying for a stake in the international markets.
In a press statement, Wachira noted that in the past year alone, Africans in the diaspora sent over Ksh6 trillion back home. The amount was, however, reduced by Ksh361 billion due to hidden fees and higher foreign exchange rates.
“Waya’s mission is to unlock financial barriers, and provide unlimited financial access and opportunities for millions of African immigrants living and working outside their home countries,” Wachira stated.
He also highlighted the opportunity presented in the banking sector by the immigrants who contribute over Ksh156 trillion to USA’s economy annually.
“The African Diaspora send over Ksh6 trillion ($50 billion) dollars back home every year and lose up to Ksh361 billion in hidden fees and high FX rates when sending money back home.”
“We not only want to help them move money back home in a faster, cheaper and affordable way but want to enable them to also store, spend and transact the over 80 per cent of their income that remains in the countries where they live and work,” Wachira explained.
Waya’s co-founder and CEO, Hempstone Maroria, noted that users within the application will be able to send money for free as well as remit money to over 10 countries in Africa. https://wayapay.com/
The remittances would be delivered to Mobile wallets and bank accounts across the continent.
“Mobile Money is one of the biggest African success stories. Wayapay wants to bring the convenience of transacting on mobile money to banking in the USA enabling users to transact with each other while enabling the diaspora to send money to Africa in a fast convenient and affordable way,” Maroria highlighted.
Diaspora Mukurino David Wachira says people mistake him for wife’s driver
Throughout his career, Wachira has had the honours of sitting across world leaders and global changemakers in various forums. Before launching Wayapay, Wachira worked at the World Bank for over a decade.
Source-https://www.kenyans.co.ke/
Diaspora Mukurino David Wachira Launches Company in US
