(Business in Cameroon) - A few weeks ago, Kawarizmi, a French start-up specializing in digital advertising, was deploying a large-scale communication campaign on social media and other digital communication avenues in preparation for the launch of the activities of money transfer operator Wafacash on the European continent.

Officially, that campaign is targeted at the Cameroonian, Moroccan, Senegalese, Malian and Ivorian diaspora established in France, Belgium, Spain, Italy, and the Netherlands. It aims to present the transfer services offered by Wafacash, a subsidiary of Moroccan group Attijariwafa Bank specializing in retail financial services.

 "We are happy to get the support of a start-up for the launch of Wafacash in Europe.  We needed a smart, professional, connected, and above all flexible team. Kawarizmi is the ideal partner to ensure a successful launch campaign. It's a great adventure that begins beyond the Moroccan borders with the services to the African diaspora in Europe," says Hihi Guillouli Kenza, head of Wafacash external communication and PR. 

Through its ad, Wafacash (which was incorporated in Cameroon in September 2015 under the brand name Wafacash Central Africa) plans to capitalize on the remittances sent by the targetted diaspora every year.  

According to a study titled "Assessment of Development Finance in Cameroon," funded by the United Nations Development Program (UNDP), the Cameroonian diaspora sent US$316 million (about XAF185 billion) of remittances home in 2017. That amount earned money transfer firms significant commission fees.

BRM