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In Africa, COVID-19 Crisis Puts Squeeze on Millions Who Rely on Remittances
Remittances amount to 5% of GDP in at least 13 African countries. For some, like tiny Lesotho, they amount to 23% of its annual income. With stay-at-home orders throwing millions out of work in Western countries, millions of Africans are feeling the pinch.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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Reducing the Costs of Migration: How Better Data Can Lead to Better Policy – and Better Prices – in Migrant Remittances
International migration has become a pressing global issue, and one that's likely to grow in the coming years. One way to help economies absorb migrants with minimal disruption is to improve their access to affordable, formal cross-border remittances. But according to Damola Owolade at FinMark Trust, this goal may be easier said than done, as accurate data on remittance pricing can be surprisingly hard to acquire.
- Categories
- Finance
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Online Remittances: Closing The Gender Gap
According to the U.N., remittance sending behaviour of migrant women often involves a higher financial cost as they tend to send smaller amounts of their income more frequently and are subjected to paying more in transactions fees.
- Categories
- Finance
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MTN Adds Vodacom Tanzania to its Cross Border Money Remittance Service
The partnership sees MTN Uganda adding Vodacom Tanzania to the list of telecom partners with whom customers can do mobile money transactions in the East African region.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Intra-African Remittance Market Set to Soar in 2020
The World Bank estimates that migrant workers within Africa send remittances in excess of $14 billion dollars each year, and in 2018 intra-African remittances represented 20% of global remittance flows according to Ecobank Group.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Remittances: Moving People Move Money
New innovations in digital technology are rapidly changing the global remittance landscape.
- Categories
- Finance
- Region
- Asia Pacific
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Press Release: WorldRemit Partners with Wizall Money to Launch its First Mobile Money Transfer Service to Senegal
Using the WorldRemit app, customers in over 50 countries can now send money instantly to over 60,000 Wizall Money mobile accounts in Senegal.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Press Release: WorldRemit Announces Global Remittance Partnership With Alipay
WorldRemit has announced a partnership with Alipay, the world's leading payment and lifestyle platform, enabling consumers to use the WorldRemit app or website for cross-border remittances to the Alipay app, bringing more convenient and inclusive transfer services to users around the world.
- Categories
- Finance
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