How A Somali Entrepreneur Beat The U.N. And Built A $500M Remittance Firm

Money Transfer

Eight years ago, Ahmed blew the whistle on corruption at the U.N. Development Program in Nairobi, and his boss told him he’d never work again in remittances or development.

This week, Ahmed was recognized by Ernst & Young, one of the world’s big four audit firms, as overall EY Entrepreneur Of The Year for London.

Ahmed’s online money transfer service, WorldRemit, earned revenue in 2015 of $35.8 million US. In 2016 the company is expecting significant growth, thanks largely to the growth of the U.S. market, Ahmed said in an interview with AFKInsider.

The company is licensed in most of the U.S. — about 47 states and territories, Ahmed said.
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