Managing a Foreign Currency Crisis
- Home
- Managing a Foreign Currency Crisis
Challenge
A global money transfer company operating in Sub-Saharan Africa faced a severe crisis when foreign currency shortages disrupted payouts in key markets. Customers were unable to access transferred funds, resulting in escalating complaints and reputational risk. The company needed to restore customer trust, minimize operational disruptions, and mitigate long-term brand damage.
Approach
I led a comprehensive crisis management strategy focused on immediate customer relief and long-term reputation management. The company deployed additional support teams to agent locations to address inquiries and introduced alternative payout options, including staggered payouts, local currency equivalents, and digital wallet solutions.
A transparent multi-channel communication campaign was launched to manage expectations and reassure customers. This included press statements, social media updates, and in-app notifications. Simultaneously, a dialogue with monetary authorities was launched to advocate for improved forex allocations and innovative remittance solutions.

Outcome
The crisis was effectively managed, with transparent communication protecting the company’s reputation and mitigating customer churn. Fee reductions and alternative payout solutions restored trust and maintained customer loyalty. Engagement with monetary authorities opened doors for structural improvements, while positive media coverage underscored the company’s proactive and customer-centric approach. This response safeguarded the company’s market leadership in the region.