The African Union has been commended for pushing for the reduction of rates during diaspora remittance.
Mr
Abdirashid Duale, the chief executive officer of money transfer company
Dahabshiil, said the AU recognised the significance of remittances in
alleviating the lives of the poor in Africa.
"Personally,
I have always called for reduction of the cost of transferring
remittances and fostering competition in the remittances market," Mr
Duale said.
COLLABORATION
Remittances
from the diaspora was one of the key topics discussed during the 30th
Ordinary Session of the Assembly of Heads of State and Government of the
African Union in Addis Ababa, Ethiopia, that started on January 28.
"The
total global volume of remittances transfers to developing
countries......has important macroeconomic effects, by increasing the
total purchasing power of receiving economies.." a statement by the
Union said.
It was recommended that to encourage the transfer of
remittances, adopting sound macroeconomic policies conducive for
investment and growth are necessary.
Also, to
strengthen collaboration with stakeholders such as the Africa Institute
of Remittances to create incentive strategies and investment
opportunities for remitters.
GROWTH
The
summit also recognized the importance of making it easier for migrants
and their families to access financial services, including by extending
financial literacy training to expatriates and receivers, and also boost
the use of technology, such as mobile money, for cross-border
remittances.
Dahabshiil, which operates in 126 countries, has been vital in ensuring Africans in remote areas access money efficiently.
The company has already adopted the use of mobile technology, eDahab, in its operations.
No comments :
Post a Comment