YMO Strengthens Financial Inclusion with Launch of Zero-Fee Transfers to Guinea
The achievement follows five years of investment in proprietary technology, regulatory approvals in Europe and Guinea, and the development of a nationwide agent network reaching even remote communities.
YMO (YMONEY), the Guinean fintech platform founded to serve the diaspora, has announced the introduction of YMO Zero Fee, a new initiative that eliminates all transfer and withdrawal charges for remittances sent to Guinea.
The company, which now serves more than 150,000 Guineans across Europe, has progressively reduced transfer costs since its establishment in 2019. Before YMO’s entry, remittance fees averaged around 9%, including transfer, withdrawal, and exchange rate costs. YMO initially brought the figure down to 5%, offering competitive exchange rates and simplified transfers, a move that prompted major market players to follow suit.
The launch of YMO Zero Fee marks a new milestone in the company’s mission to make money transfers more accessible and affordable for Guineans abroad. The achievement follows five years of investment in proprietary technology, regulatory approvals in Europe and Guinea, and the development of a nationwide agent network reaching even remote communities.
YMO’s expansion underscores the growing role of the Guinean diaspora in driving innovation and economic inclusion, positioning the company as one of Guinea’s leading international fintech enterprises.
