Over the years, the African diaspora has been effectively channeling its resources and expertise to drive sustainable wealth for the continent. From remittances to investments and job creation, members of the diaspora economy have been instrumental in fostering opportunities for prosperity. If you look at the numbers, remittance has become
Sending money home is a heartfelt expression of love and dedication to your family and friends. As the holiday season approaches, the flow of remittances to your home country will only accelerate. Imagine sending $200 to your family overseas only for them to receive $185. The difference may not seem
Compliance remains a top priority for the remittance industry. Powered by advanced digital technologies, new-age Money Transfer Operators (MTOs) are shaking things up, connecting more parts of the world, and offering a range of international money transfer services that are speedy, simple, and a breeze to use. In a bid
A taste of home. That’s what African immigrants worldwide yearn for. And as a result, local markets and African grocery stores in the UK and the US have become cultural havens. For many, they provide a sense of belonging and community. With the African population in the UK close
The "out-of-Africa" migration has only proliferated over the years. With the employment of foreign-born workers going strong in the UK and the US, diaspora remittances continue to be a steadily growing pillar of the continent’s financial inflows. Owing to the increasing scale and stability of remittance inflows
Over the years, even through the harshest global economic downturns, one financial flow has remained steady: the money migrants send home. We’ve got the numbers to back this up. As per a recent report, more than 200 million diaspora members send money home each year, offering critical support to
Looking for the best exchange rates to Africa? You’re not alone. Exchange rates are constantly changing, and the recent swings in global currency have only heightened this volatility. Moreover, with the workforce worldwide becoming increasingly mobile, international remittances have grown in prominence, and immigrants are keeping a close watch
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The United States of America has long preserved its title as the "land of opportunity." A well-deserved label that has thousands of immigrants flocking to the country every year. The pursuit of a secure future has led to an influx of foreign-born workers in the US. In 2024,
Businesses today can no longer be confined by borders. Global trade is growing fiercely competitive, and as a result, many organizations are looking to seize new opportunities in international markets. The good news—as McKinsey pointed out—is that “the rumored ‘consumerization’ of business payments is happening.” Businesses now want
Over the past decade, robust digitization in the financial services space and changing customer preferences have reshaped international money transfers. Open banking, in particular, is fundamentally changing how cross-border transfers work and enabling an all-around upgraded payment experience. As per a recent report, open banking users are projected to increase
With the rapid pace of globalization and millions of people of African origin living abroad, the need to transfer money overseas has become more common than ever. Remittances play a crucial role in African economies by securing households and uplifting communities as a whole. They are a gateway to financial
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