The Chaka Group and Money Express: African Leadership in Money Transfers and Remittances

Authors Mamadou Gaye Ousmane Moreau
Lead Organization Chaka Group
Type of Organization MSME
Country Senegal (Sub Saharan Africa)
Business Sector Remittances
Role of the Poor Consumer
Theme Financial Inclusion
MDG 1: End Poverty and Hunger 8: Global Partnership
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Abstract The Chaka Group, created in 1994 by the Senegalese entrepreneur Meissa Deguene Ngom, is comprised of three units: Chaka Computer, Call Me and Money Express. The case focuses on Money Express and its benefits for the poor. From the outset, Money Express’s goal was to be the market leader in transfer and remittance services for West African immigrants in Europe and the United States. To send money from abroad, Money Express clients need only a Senegalese or West African passport. The company, spread through rural and urban areas, works in partnership with networks of smaller banks in West African villages. Money Express helps recipients get their money, with agents sometimes going door-to-door to give remittances to elderly people who cannot easily leave their houses. For the many clients who lack the identification necessary for formal banks, this is a worthy value proposition. Many banks also lack the infrastructure to deliver funds in rural areas. The case describes how Money Express rapidly expanded across West Africa because of its low-cost business model, knowledge of the African market and emphasis on customer service and on developing and training employees.
Citation Gaye, Mamadou & Moreau, Ousmane. "The Chaka Group and Money Express: African Leadership in Money Transfers and Remittances." GIM Case Study No. A011. New York: United Nations Development Programme, 2008
Reference A011
Source GIM 2008
Type Case Study
Language English
Constraints Access to Financial Services Regulatory Environment
Strategies Adapt Products and Processes Combine Resources and Capabilities with Others