Sep 11, 2012
he Chaka Group, created in 1994 by the Senegalese entrepreneur Meissa Deguene Ngom, is comprised of three units: Chaka Computer, Call Me and Money Express. The case focuses on Money Express and its benefits for the poor. From the outset, Money Express’s goal was to be the market leader in transfer and remittance services for West African immigrants in Europe and the United States. To send money from abroad, Money Express clients need only a Senegalese or West African passport. The company, spread through rural and urban areas, works in partnership with networks of smaller banks in West African villages. Money Express helps recipients get their money, with agents sometimes going door-to-door to give remittances to elderly people who cannot easily leave their houses. For the many clients who lack the identification necessary for formal banks, this is a worthy value proposition. Many banks also lack the infrastructure to deliver funds in rural areas. The case describes how Money Express rapidly expanded across West Africa because of its low-cost business model, knowledge of the African market and emphasis on customer service and on developing and training employees.