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I am Jonas Cochico and I welcome you | Message from CEO

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I am Jonas Cochico and I welcome you | Message from CEO

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We are currently working on the the major business applications of the company that are downloadable to any smart phone.

We are also working on the permits and licenses with the Securities and ExchangeCommission and the Central Bank of the Philippines. And we apologise for these delays.

Mango Remittance intends to take the lead in reducing the cost for the Overseas Filipino Workers in sending their hard earned money to their beneficiaries back home.

Every centavo counts for our new breed of heroes, who stake their blood, sweat and tears when they work abroad.

We have more than twelve million OFWs and only about ten million are duly registered.

Some of them send money through friends.

We at Mango Remittance are providing a fast, safe and efficient way for them to send money back home.

Within minutes, we can assure them, that their beneficiaries would have been able to confirm that the funds have been sent. And through our partners, they can withdraw their money.

Our system provides the KYC access that our regulators require.

Our clients would not need to wait for 48 hours just to confirm that the funds have been sent.

Initially, we will serve the OFWs within the Asian Region. There are about 1.8 Million registered OFW in the region.

Next year, we intend to extend our services in Europe, where another 2.3 Million OFWs are registered.

 

We intend to get the lion’s share or about 60% of the remittance business.

We are initially looking at bringing down the cost to less than $3.00 compared to the current cost of at least $4.50. As we expand our customer base, we would try to bring it down to less than $2.00.

We have decided to limit our area of service to these two regions. We believe that these areas have the growth potential in the years to come.

When the company derives substantial profits, and since the main purpose of the company is for poverty alleviation, we will set aside a considerable percentage of the profits to fund charitable projects that will help the lives of the poor in Tondo, Payatas and the neighbouring slum areas in the metropolis. We will share to you the details soon.

We believe in the company’s potential.

In fact, we are already looking at a forty hectare property in Taguig, the fastest growing city in the Metropolis.

The site will be used to develop a Japanese Village. Complete with a school, a hospital, a mini mall and supermarket, car dealerships and a host of other service oriented establishments to complete the community.

I am Jonas Cochico and I welcome you.

Together, let’s make a better future.

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