Sending cash home: mobile money is a gamechanger

Remittances – money sent home by people working abroad – are hugely important in developing countries. In Burundi, they are vital.
Two thirds of this small African nation’s population live on less than $190 a year, so this cash plays a significant role in smoothing volatile, often vulnerable, incomes. The average remittance-receiving family relies on funds from relatives abroad for 61% of household expenditures.

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Made In Africa: Cross-Border Mobile Money Transfer Leaps In East Africa

East Africa has emerged at the leader in mobile payment over the years, with countries like Kenya having more than two-third of its adult population using mobile phones to transact.
With the mobile money market in sub-Saharan Africa expected to double by 2019, lack of interoperability between telecoms operators and cross-border restrictions has stood out as one of the key challenges that face the growth of the revolution.

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Mobile Money Africa 2014

20-22 May 2014Johannesburg, South Africa
Mobile Money Africa is back for its 6th consecutive year
Join us on the 20- 22nd May 2014 in Johannesburgat where Africa’s most influential thought leaders and industrious businessmen will be gathering to share their ideas about how to move Africa’s vibrant and innovative payments ecosystem forward.

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Remittances to Africa becoming smaller and more frequent

While the overall amount of money remitted to Africa is on the rise, the average value of remittance transactions between the UK and Africa is falling,
according to online money transfer specialist WorldRemit, which has seen the average amount sent per transaction drop by more than 60 percent in the past year.
WorldRemit ,which is the largest dedicated online international money transfer service processing tens of thousands of remittance transactions to Africa each year, has witnessed the average transaction value fall from £270 to £96 over the past year.

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