The Importance of Global Remittances and Options to Send Cash to Africa
The International Day of Family Remittances (IDFR) highlights the important contributions that international migrant workers make toward the household incomes of their families back home. Global remittance companies make it possible for migrant workers to send cash to Africa to support their families.
The IDFR is observed annually on the 16th of June in recognition of 200 million migrant workers who support their families. As many as 800 million people rely on their family members to send cash back home, many of whom are in rural areas on the continent.
With millions of migrant workers at risk of losing their jobs because of the global financial crisis as a result of the COVID-19 pandemic, many of the dependent families may be without any form of income in the coming months. It has never been more important than now to have global remittance systems in place to make it as easy as possible for migrant workers in the UK and Europe to send cash to family or friends in Africa.
Migrant workers contribute to the economies of the countries where they work and live while also doing the same for their families and countries in Africa. Remittances are crucial during this trying time. The observance of IDFR helps to give due recognition to the importance of global remittance systems in ensuring the well-being of dependent families and communities. Migrant workers in as many as 40 countries transfer cash to relatives in 125 countries around the world. The global remittances help to support struggling economies in Africa and Asia.
At least 50% of the cash transfers to Africa by migrant workers go to families in rural areas. It is thus crucial to ensure that the families in the rural areas can collect the money without having to travel far.
One of the problems faced when transferring cash to Africa is that families often have to work through agencies and middlemen that ask excessive fees and, in many instances, defraud the receivers. To this end, the services offered by Mukuru as a renowned international remittance company, are essential to ensure safe, secure, and hassle-free ways to send cash to Africa.
Mukuru has an extensive reach on the continent, making it possible to get funds from the UK and Europe to 15 plus countries in Africa. Some of the countries within the transfer corridors:
- South Africa
Transferring money is as easy as registering with Mukuru, verifying the sender, choosing the recipients, paying the low transfer fees, and transferring the money. The sender can wait for the most favourable exchange rate before doing the transaction. The first transfer is free.
Various collection options are available according to the recipient’s country. Such options include money collection at contact centres, payments to mobile wallets and bank accounts as available in Nigeria, direct transfer to Mukuru cards in South Africa and collection at Mukuru Orange Booths available in Zimbabwe. The transfer is instant, with minimum cost to the sender. The sender doesn’t need a bank account, making it even more convenient as a funds transfer method between the UK and African countries.
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