M-SELEN Records $60 Million in Remittances in Just Six Months

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Just six months after entering the international remittance space, M-SELEN has already processed over $60 million in transfers—an average of $10 million per month—from Australia and New Zealand to the Solomon Islands.

The update was shared by M-SELEN head Majidul Haque during the launch of the company’s latest feature, “Buy Goods & Services,” on Friday.

Haque said the majority of the remittances come from Australia and New Zealand, where thousands of Solomon Islanders are employed under labour mobility programs. Over 10,000 Solomon Islanders have participated in Australia’s PALM scheme, with several thousand more working in New Zealand through the Recognized Seasonal Employer (RSE) scheme.

These seasonal labour programs have driven a significant increase in remittance flows over the past four years, spurring new business opportunities for money transfer services like M-SELEN. The platform has become especially popular among workers looking to send money directly to rural communities from farms across Australia.

In 2024, Solomon Islands received a record $475 million in total remittances, a figure expected to grow even further this year.