Africa needs solution to counter high remittance fees
Editor,I can indeed confirm how extremely expensive it is to send money home, often making it uneconomical to send small amounts as the charges can very easily eat away the remittance to the point where the beneficiary receives less than the total charges.
Thursday, January 31, 2013
Editor,I can indeed confirm how extremely expensive it is to send money home, often making it uneconomical to send small amounts as the charges can very easily eat away the remittance to the point where the beneficiary receives less than the total charges. Without such prohibitive charges imposed by such oligopolies as Western Union, who control this market, more migrants would no doubt be making small but frequent remittances to more members of their extended families in Africa. Where are our African entrepreneurs with a bankable solution to this problem?Mwene KalindaReaction to the article, "Remittance fees cost Africans billions”, (The New Times, January 30, 2013).