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The Disruptors Are Forcing Change in the Remittance Industry
Remittances to Africa have grown rapidly in recent times, and it forms an integral part of the $500 billion global money transfer market. This is because several African nations rely heavily on money sent home by friends and relatives working abroad. Hundreds of Africansare migrating daily to keep growing the influx. But the biggest gainers in this have for long being a few firms, whose near-monopoly costs the continent about $2 billion annually in remittance fees. However, a new breed of companies are causing much needed disruption in the money transfer market and are putting consumers back in control of their money.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
- Tags
- public policy, remittances
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Mobile Money Service a First for Burundi, ‘Just Like an Instant Message’
London-based money transfer services provider WorldRemit has partnered with Zimbabwe-based EcoCash service to launch instant mobile money transfers in Burundi.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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A Solar Power-Charging Backpack Made From Recycled Plastic
Fledgling social enterprise Rethaka sells backpacks for school kids that do a few things at once: Made from recycled plastic bags, they first of all address the plague of waste from that material. And with a charger powered by solar energy, they provide light for children who lack electricity at home, while also reducing the use of kerosene, which causes a great many accidents and illnesses. Its CEO, 22-year-old Thato Kgatlhanye, founded the company and developed the product, called Repurpose Schoolbags, while attending a university in Johannessburg, South Africa.
- Categories
- Energy
- Region
- Sub-Saharan Africa
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Africa’s Leading Women in Tech 2015
South Africa paid tribute to women across the country on National Woman’s Day, which was held on 9 August 2015.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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“We Want to Turn Poo Into Gold”: How SMS Is Transforming Senegal’s Sanitation
On a stormy day in Dakar, Tina Gomis, a local woman in Sicap Mbao, laughs at the idea of selling her own excrement to the government. But this may soon become a reality in a city with a reputation for terrible waste management.
- Categories
- Health Care
- Region
- Sub-Saharan Africa
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MasterCard Foundation to Invest in Ugandan Companies
Uganda is among eight countries set to receive USD50m (Sh177b) by the Master Card Foundation Fund for Rural Prosperity to fund innovations aimed at improving access to finance in rural populations in sub Saharan Africa.
- Categories
- Agriculture, Impact Assessment
- Region
- Sub-Saharan Africa
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M-Pesa and the Rise of the Global Mobile Money Market
Most people probably don’t think of Kenya as an innovation and technology hub, but in 2007 it became the launching pad for M-Pesa, a transformativemobile phone-based platform for money transfer and financial services. Since then, M-Pesa has undergone explosive growth: in 2013, a staggering 43 percent of Kenya’s GDP flowed through M-Pesa, with over 237 million person-to-person transactions. M-Pesa is nearly ubiquitous in the daily lives of Kenyans due to a range of services that include money deposit and withdrawal, remittance delivery, bill payment, and microcredit provision.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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A Milestone in Africa: No Polio Cases in a Year
It has been one full year since polio was detected anywhere in Africa, a significant milestone in global health that has left health experts around the world quietly celebrating.
- Categories
- Health Care
- Region
- Sub-Saharan Africa