MoneyGram Reaches 20,000 Agent Locations in Africa

  MoneyGram Reaches 20,000 Agent Locations in Africa

Business Wire

DOUALA, Cameroon -- January 10, 2013

MoneyGram (NYSE: MGI), a leading global money transfer company, announced
today that it has officially crossed the 20,000 agent location milestone in
Africa through its relationship with Express Exchange.

The news was announced at a press conference hosted today by MoneyGram
officials at the Sawa Hotel in Douala.

In addition to Express Exchange, MoneyGram also leverages its robust agent
network with well-respected pan-African banks in Cameroon like Afriland First
Bank, Banque Atlantique and UBA.

“MoneyGram remains the right choice for Express Exchange,” said Xavier Takam,
president, Express Exchange. “Now, we offer our customers a money transfer
service that is fast and reliable. Working with MoneyGram demonstrates our
commitment to giving our valued customers the important services they need to
send money to their loved ones around the world.”

According to Herve Chomel, vice president of MoneyGram’s African region,
convenience is a critical component in the money transfer industry,
particularly in Africa. “We are focused on increasing the number of MoneyGram
locations throughout Africa to make our services as accessible and convenient
to as many customers as possible. In the past 18 months, we have added 3,000
MoneyGram agent locations to our network in Africa and have grown to 20,000
throughout the continent.”

MoneyGram operates in more than 50 countries throughout Africa. In 2012,
MoneyGram announced the addition of First National Bank in South Africa and
Ecobank in Nigeria, significantly expanding the company’s presence in Nigeria.

According to the World Bank, an estimated $39 billion in remittances flowed
into Africa in 2010.

About MoneyGram

MoneyGram, a leading global money transfer company, enables consumers who are
not fully served by traditional financial institutions to meet their financial
needs. MoneyGram offers money transfer services worldwide and bill payment
services in the United States and Canada through a global network of more than
293,000 agent locations—including retailers, international post offices and
financial institutions—in 197 countries and territories around the world.To
learn more about money transfer or bill payment at an agent location or
online, please visit www.moneygram.com or connect with us on Facebook.

Contact:

MoneyGram
Mike Gutierrez / Sophia Stoller, +1-214-303-9923
media@moneygram.com
 
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