The Sub-Sahara Region has been working continuously for accelerating its economic progress. In 2019, the GDP of Africa stood at 2.9%. However, it is anticipated to reach up to 3.2% in 2020. According to research, solely Nigeria contributes to 60% of the GDP Development in Africa.
Remittance industry plays a crucial role in stabilizing the economy and taking it towards progress. The enormous population of the sub-continent includes a significant proportion of ex-pats who send money to Gambia, regularly. More than 25 million migrants transferred approx 46$ US in 2018, and this amount increased in 2019 as well.
Ratio Of Money Transfer Gambia
The Gambia receives 15.3% of the total remittance income and stands on the second on the list. The major employment hubs for Gambians include the US and the UK. Due to a more significant currency differentiation, when these migrants send money to the Gambia, it enables the beneficiary to gain maximum returns which can be used for acquiring a better lifestyle. If each of the remittent increases the transferred amount to 2%, the overall poverty in the region will reduce by 3%.
Homecoming Conventions For Kenyans
Kenya is the fourth largest remittance receiver, around the globe. Thereby, it has an essential role in the foreign exchange rate market. However, it is not much beneficial for the country’s economy, as it contributes to only 3% of the annual GDP. For facilitating the ex-pats and their families, different policies such as tax-breaks, long term bonds and mitigation in migration costs are predicted to implement very soon, creating a win-win situation for both the forex market and the state of Kenya.
ACE Money Transfers Is Here For You!
Keeping in view the needs and requirements of people all around the world, Ace Money Transfers have developed a well-designed channel which can money transfer to Gambia online within a few seconds only! Due to the unavailability of sharp cashout points in the state, it used to take days and even weeks only to transfer payments, but at our platform, we can regulate your fees in 2-3 business days(ACH Transfer) only!
Comments
Post a Comment