The remittances business moves over to new technologies

The estimated global remittances (money sent from the West to home countries) was estimated at $268 billion in 2006. Out of that about $20 billion goes to Africa and those are just the official figures.   The reality is far more as money is sent home in various ways such as through friends and relatives going on holiday or returning home; transfers by Western Union and Money Gram.  Now there are new ways of sending money home as well as paying utility bills for family and friends at home.  Internet sites like MamaMikes in Kenya, Mukuru and Zimbuyer in Zimbabwe, Wizzit in South Africa enable not only sending money home, but also topping up phones and paying electricity bills and even buying petrol. 

However if you look beyond the remittances there is another story. The story of the thousands leaving the continent every year in search of a better life where people can earn money to support families at home.  Many of those leaving are the most qualified such as doctors, lawyers, teachers, nurses and so on.  This is a drain on Africa's economy especially when many of those leaving trained at the expense of local eductional institutions. 

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Comments

Remittances and Tanzania

Sokari, thank you for your posting regarding remittances and information technologies. I am currently working with IOM in Tanzania to promote similar technologies among the Tanzanian diaspora communities here in the United States. IOM has conducted a great deal of research regarding options for remittance and skills transfer, but they are lacking the perspectives of Tanzanians themselves. I'm hope that postings like yours will draw interest from members of the Tanzanian community who can share their perspectives on the constraints, priorities, motivations, and experiences with both remittance and private investment in their country.

I look forward to hearing opinions on the matter.

 

 

 

Let's contact members in Tanzania..

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Hi Buck,

Glad to see you on the site and contributing to the blog. I'd like to suggest that we get in touch with Tanzanian members directly. Could you write a blog post with more details about your project, the types of info/insights you are looking for and types of organizations/regions you want to hear from? I could then send a quick mailing out to our Kabissa member organizations in Tanzania to see what insights they might have. 

I will add you to the "blogger" role on the site so you can post to your own blog here.  

Cheers,

Tobias