TapTap Send has resumed its operations in Ghana after a month-long suspension by the Bank of Ghana (BoG).
At a media engagement, Daryl Mawutor Abraham, Head of TapTap Send Africa, announced the company’s ambitious goal to reverse capital flight by channelling every dollar taken out of Africa back through remittances.
The suspension was prompted by TapTap Send’s diaspora-based cedi wallet, which allowed Ghanaians abroad to store funds in cedis for seamless transfers.
BoG flagged this as a violation of foreign exchange and banking regulations. While the wallet remains on hold pending regulatory approval, TapTap Send resumed activities on December 4, rolling out initiatives to rebuild customer trust.
Abraham highlighted that Ghana receives $5 billion annually from remittances, with TapTap Send contributing over $1.5 billion—accounting for a quarter of the total. This figure eclipses Ghana’s 2024 foreign direct investment (FDI), which was a mere $367 million.
“Remittances are the backbone of the Ghanaian economy, far outweighing FDI and even the funds the government secures from global partners,” Abraham noted.
He emphasised how remittances directly fund education, healthcare, housing, and small businesses, providing an immediate and tangible impact.
TapTap Send has launched the TapTap Sanbra Promo to entice customers back to the platform. The promotion offers Ghanaian diaspora customers opportunities to win return air tickets and cash prizes, while recipients in Ghana stand a chance to win up to GHS100,000.
In addition, the company introduced a charity feature in its app, promising to match every dollar sent to selected Ghanaian charities up to GHS1 million per organization. This initiative reflects TapTap Send’s commitment to driving social impact alongside economic empowerment.
With a workforce of 120 call centre staff in Ghana and plans for expansion, TapTap Send is doubling down on its local presence.
Abraham praised Ghana’s regulatory environment, particularly its digital finance interoperability system, but called for stronger partnerships with industry stakeholders to maximise remittance contributions.
“Our mission is to reverse capital flight,” he said. “By offering free transfers to Africa, we ensure funds flow back home while earning through foreign exchange margins.”
Beyond remittances, TapTap Send actively supports Ghana’s fintech ecosystem, partnering with content creators and sponsoring events such as Tech in Ghana and the Ghana Fintech Awards.
As the leading international remittance provider to Ghana, TapTap Send is committed to fostering economic growth, financial inclusion, and sustainable development. “Every dollar we find abroad must return to Africa,” Abraham declared, underscoring the company’s vision for a thriving African economy fuelled by its diaspora.