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Cashmopolitan Ltd ( Cashmo )
Cashmo is a London based money transfer company regulated by the UK Treasury. Cashmo focuses on worker
remittances from Europe into Africa, aiming to offer a cost effective alternative to existing money transfer firms, with
first class support and customer service. It is the first African owned person-to-person money transfer firm active across
the African continent.
The company was set up to bridge the gap between small single country operators or internet based money transfer
firms on the one hand, and large established companies such as Western Union and Moneygram on the other hand.
Cashmo is controlled by the Sydmor Finance group, a London finance advisory firm specialising in Africa, alongside
private investors mainly from the City in London.
Cashmo started trading at the end of 2004 using a proprietary money transfer payment system, providing a secure
end-to-end link from collecting agents to paying banks in the destination countries. Cashmo operates from a call centre
in North London and its combined staff has more than 40 years of experience in the key business functions (banking,
money transfer operations, IT and retail customer services).
Cashmo currently operates from the UK, Spain and Switzerland and delivers money on the same day to Cameroon,
Ethiopia, Ghana, Kenya and Nigeria, with many more countries to follow. Cashmo has a network of more
than 400 collection points, which comprise exclusive agents and paying banks, all being prime banks in their respective
delivery countries.
More information on the company is available at w w w.cashmo.net.
Moyo Kamgaing
Moyo Kamgaing is the promoter and Managing Director of Cashmo. A banker by background, Mr. Kamgaing started
his career with Bankers Trust in1986. He advised the Nigerian National Petroleum Corporation on its US downstream
plans, the African Development Bank on its trading facilities in Abidjan, and over time arranged loans in excess of $800
mm from Zimbabwe (aircraft acquisition financing) to Tunisia (private placements) and Ghana (structured loans). As
V ice President in charge of West Africa, he arranged Ghana s first euroloan, a $75 mm syndicated facility for GNPC,
and the country s first ever coca financing, a $150 mm syndication for Ghana Cocoa Board, which received the
Euromoney Deal of the Year A ward for Africa in 1994. He also led the bank s team on the short list for the Ashanti
Goldfields IPO in 1994.
Mr. Kamgaing set up Sydmor, the parent company of Cashmo in 1996 and has since completed a number of significant
financing transactions with Sydmor notably:
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