MoneyGram hits milestone of 310,000 agents

Updated 19 March 2013

MoneyGram hits milestone of 310,000 agents

MoneyGram, a leading global money transfer company, now has a global network of more than 310,000 agent locations, following a year of significant network and channel growth.
MoneyGram recently reported money transfer fee and other revenue constant currency growth of 13 percent and transaction growth of 14 percent growth for the fourth quarter and full year 2012.
This strong growth over the last several years has been fueled by a growing agent network.
During the past 30 months, MoneyGram has added 100,000 agent locations.
Since 2007, MoneyGram has more than doubled its network.
In 2012, MoneyGram added more than 43,000 agent locations.
In 2012, MoneyGram post office agent relationships grew to nearly 30 globally.
Grant Lines, MoneyGram’s senior vice president of Asia Pacific and Middle East, said: “Our teams have done a fantastic job of meeting consumer needs in this region by focusing on the particular service elements required in each country, versus adopting a one-size fits all approach.”
MoneyGram continues to grow at a fast pace in the Middle East.
In addition to working with well established agents such as NCB, NBAD, Al-Rostamani, Al-Ahalia, BEC and BFC, MoneyGram also recently launched its relationship with Qtel, Qatar’s leading mobile operator, to offer international mobile money transfer services.
Transaction growth in South Asia was also robust with network strength crossing 51,000 locations.
MoneyGram services are available in India at India Post, Thomas Cook, UAE Exchange, Supreme Securities and State Bank of India.
MoneyGram also works with large banks and financial institutions in Bangladesh, Sri Lanka, Nepal and Maldives.
In Pakistan, the MoneyGram brand is highly recognized and its agents include Bank Al Falah, Wall Street Exchange, Soneri bank, Bank Al Habib and MCB Bank Limited, among many others.The network in Pakistan grew by 30 percent in just six months in 2012.


SAGIA, Xylem ink $50m MoU to advance water security

Updated 05 December 2019

SAGIA, Xylem ink $50m MoU to advance water security

Water technology firm Xylem has signed an MoU with the Saudi Arabian General Investment Authority (SAGIA), representing an investment of $50 million. The agreement aims to expand Xylem’s manufacturing footprint into the Kingdom, and to better serve its portfolio of customers in Saudi Arabia and across the region.

Under the MoU, Xylem will work with SAGIA to develop and localize advanced water and wastewater products and technologies to address water challenges in Saudi Arabia, as well as increase its footprint of service points and rental fleets across the Kingdom. A core objective of the MoU is to accelerate adoption of digital water solutions and optimize utility networks across the Kingdom.

The proposed multimillion-dollar investment will not only help build a vibrant local supply chain, but also see Xylem bringing additional commercial opportunities into the Kingdom, with the wider aim of improving water solutions locally. The agreement is in line with the goals of Saudi Vision 2030 to promote economic diversification through investments in localization that will also contribute to the export of “Made in Saudi” products across the world.

The MoU was signed on the sidelines of the Future Investment Initiative (FII), commonly known as the “Davos in the Desert,” by Ibrahim A. Al-Omar, governor of SAGIA, and Steven Leung, senior vice president and president, emerging markets of Xylem, in the presence of senior officials of both entities and Frank Ackland, managing director Xylem Middle East.

Al-Omar said: “As Saudi Arabia welcomes investors and decision-makers from across the globe to this annual global investment platform, the agreements exchanged here reflect the strength and diversity of the economy. Under Saudi Vision 2030, Saudi Arabia is undergoing an ambitious program of economic reform, and the world is taking notice. This month, Saudi Arabia climbed 30 places in the World Bank’s Doing Business 2020 report, becoming the most improved economy globally. The indicators are
clear: Saudi Arabia is not only open for business, it’s the economy of the future.”

Leung added: “As Xylem continues to lead the water sector’s digital transformation globally, this MoU presents an opportunity to leverage our market-leading portfolio and application expertise to advance water security in Saudi Arabia. Through our investment of $50 million, and with our strong presence in Saudi Arabia, backed by our dedicated office and team, we are committed to creating in-Kingdom value through our investments and partnerships. We are thankful to SAGIA for the opportunity to directly contribute our expertise to the development vision of the leadership, as the Kingdom embarks on its ambitious transformation program.”