Following the launch of money transfer services at Banco Nacional de Guinea Ecuatorial (BANGE) locations, MoneyGram has effectively continued to expand in Equatorial Guinea.
BANGE is one of the leading commercial banks in the country; it provides financial services to thousands of customers in seven major cities. MoneyGram customers in Equatorial Guinea now have fifteen new convenient locations where they can send and receive money between family and friends.
Equatorial Guinea is one of the smallest African countries inhabited by 800,000 people. A member of the Economic and Monetary Community of Central Africa (CEMAC) and the Economic Community of Central African States (ECCAS), it’s one of the African’s largest oil producers. Equatorial Guinea is also among the largest recipients of foreign investments in Africa. The key sending countries to Equatorial Guinea are Spain, U.S., and Cameroon; most of the outbound transfers are sent to Spain.
Africa is a critical market for MoneyGram. The company has more than 30,000 locations in 50 countries on the continent.
Meanwhile, MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. It also provides bill payment services, issue money orders and process official checks in select markets.
Banco Nacional de Guinea Ecuatorial (BANGE) has the government as a main shareholder. It further enjoys a position of a leading bank in its country, providing financial services within the network of branches located in the 7 major cities and serving more than 80,000 customers.
BANGE is also one of the biggest national employers contributing to Equatorial Guinea’s economic growth by providing support to small and medium-size companies. It aims to gain a position of the leading bank in Central Africa.