$550bn was the value of direct immigrant remittance into Africa by July 2019. Behind the numbers are the individual remittances of US$200 or US$300 that migrants send home regularly so that their family members can meet immediate needs and build a better future back home. In 2017, Ugandans in the diaspora sent home US $1.4 billion though that figure fell slightly to US$ 1.312 billion in the subsequent year.
The advantage of these payments is that they usually flow directly into
the hands of households, which increases household income and reduces the likelihood of
households falling into poverty. While thevalue has steady growth, the high cost of transfer
and ease of process continues to hinder remittance with some channels still relying on
physical agents to complete the final leg of transactions.
Through our Tumia Pesa App, we make the process both simple and cost friendly with multiple
choices for payment options directly into mobile wallets and bank accounts.