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Sending money out of South Africa set to become easier and cheaper
An exemption to a financial intelligence law will reduce the cost and lessen the bureaucracy involved in transferring cash across the border.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Shaking up global remittance market: Startups & telcos making money available at the click of smartphones
New tech startups and traditional telecom operators are taking advantage of the rapid rise of smartphones in many emerging economies to reduce the barriers - and costs - of sending cash overseas.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Findex: Sub-Saharan Africa Continues to Be the Leading Frontier of Financial Inclusion
Half of the world's population lives and works in the informal economy - not by choice, but by necessity. In the language of economists, poor families in developing countries are consumption-smoothing households and capital-consuming, self-employed entrepreneurs at the same time. As a result, they need a broader range of financial services to manage inevitably irregular income and expense spikes, accumulate working capital, build assets, and mitigate risks. Lacking better alternatives, they often resort to informal financial mechanisms, such as moneylenders, pawnbrokers, and rotating savings clubs, which can be very unreliable and expensive.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Ripple scores $28 million funding round
Digital currency outfit Ripple Labs has closed a $28 million Series A funding round that includes IDG Capital Partners and the venture arms of CME Group and global data storage company Seagate Technology.
- Categories
- Uncategorized
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Money Keeps Moving Toward Somalia, Sometimes In Suitcases
Some financial companies in the U.S. resort to carrying cash on airplanes to keep remittances flowing to needy Somalis.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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Money Order Service Not Discontinued, Says India’s Department of Post
The Money Order service, the old and trusted mode of remittance, was very much available, the Department of Post today said, strongly refuting the reports otherwise.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- remittances
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How NGOs Can Help Unleash Cuban Remittances
Remittances to Latin America and the Caribbean set a new record high last year, at a total of $65.4 billion, the Inter-American Development Bank revealed Tuesday.
- Categories
- Uncategorized
- Region
- Latin America
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What a Western Union, MoneyGram Merger Would Mean to Africa
Shares in MoneyGram International, one of the largest money transfer firm s in the world, rallied as much as 41 percent after Bloomberg, citing sources close to the deal, reported that the industry leader Western Union was in “early stage” talks to acquire MoneyGram.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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