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The remittances business moves over to new technologiesSubmitted by sokari on 3 April, 2008 - 16:30.
Tags: 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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