MoneyGram (NASDAQ: MGI) (http://www.Moneygram.com) continues to expand in Equatorial Guinea with the launch of money transfer services at Banco Nacional de Guinea Ecuatorial (BANGE) locations.
MoneyGram customers in Equatorial Guinea now have fifteen new convenient locations where they can send and receive money between family and friends. BANGE is one of the leading commercial banks in the country. The bank provides financial services to thousands of customers in seven major cities.
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.
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