The World’s First Social Business Money Transfer Operator

The story of Mama Money starts with a big yellow school bus. Travelling through Africa, Raphael and Matt began making plans…

Before founding Mama Money, Raphael worked at the United Nations World Food Programme, providing food to people in need. An aid worker by heart, he was inspired to start a company that directly tackled a social problem, the high costs of international money transfer to and in Africa, the most expensive in the world.

Matt has a wealth of experience in business management. Over the years he has worked in direct marketing, recruitment and the loyalty industry. After meeting Raphael in Mozambique during his sabbatical, they started Mama Money. Matt is passionate about people and business for good.

Together, they thought: Let us start a social business money transfer operator. A company that provides a cool, modern, safe and low-cost way for migrants to send money home to support their families. Rather than looking at profit-maximisation, let’s see how we can directly assist people who don’t earn a lot. Mama Money is designed to help African migrants, who left their home and their community in search of better opportunity, contribute better and more directly to their families survival and development.

The money sent home is mostly used for food, medicine, housing and children’s education. Therefore, if less money gets stuck with the money transfer operator, more money arrives in the pockets of people who really need it. Its really that simple: Lower money transfer fees will lead to better nutrition, better health care, better accomodation. A brighter future.

To put the problem into numbers: Money transfer costs are incredibly expensive. The World Bank estimates that cutting prices by 5% points can save migrant families an extra $16 billion a year. In comparison to the World Food Programme budget of $ 1 billion, thats huge! Keeping in mind the World Food Programme reaches 100 million beneficiaries a year with a $1 billion budget. Now imagine what families throughout the world could buy with an extra $16 billion.
So that’s where the idea for Mama Money comes from.

People often ask, why we called it Mama Money? Well, firstly a lot of people send money to their Mama. Secondly, we are busy expanding into other financial services, and the Mama is the backbone of the African economy. Hence, Mama Money…


While our social business ethics forms our core identity, our technology forms the basis of our operations. We are a tech company, providing a service that people really need. It’s not a luxury product like video games or rating shoe designs on the internet. Mama Money uses the advances in modern technology to provide a purposeful and low-cost money transfer solution.

Our launch product is Africa’s first completely cashless money transfer system. Around the world, innovative ideas around payments are blossoming. If nearly everyone can call nearly everyone else around the world, why is it so hard and expensive to send money to your loved one? In the modern world, money is also just another electronic message.

So our goal is clear. Lets bring down the cost to send money home. In light of our global humanitarian and financial crises, let’s leave greed behind us. Lets use the human, financial and technology resources we have to create a better world.

So that’s where the idea for Mama Money comes from.


Contact Mama Money on 021 202 5420 or