African money transfer firms thrive as pandemic spurs online remittances - News Summed Up

African money transfer firms thrive as pandemic spurs online remittances


So he tried out an online remittance company on a friend’s recommendation. He is one of many African migrants being pushed towards digital transfer services, often for the first time, during the pandemic. Jury and other industry executives say that shift is likely to last as digital remittance services are typically cheaper, faster and safer than informal networks, which are difficult for governments to regulate. Online remittance company WorldRemit reported last week that transfers to Zimbabwe via its service had doubled over the past six months. When the boys send me money, it does help a lot,” his mother Gladys Muzira told Reuters.


Source: Standard Digital October 26, 2020 09:22 UTC



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