Home Sweet Home- An ALJAZERRA Program

Home Sweet Home

Is home the place where we were born, or where we find our loved ones? Surprising Europe  If you are living between continents, it is hard to choose in which one you want to grow old.  Many African migrants in Europe deal with this dilemma on a daily basis. But despite poverty and misery some decide to go back home. Evariste from Burkina Faso worked as a fruit picker in Italy, but got fed up with the cold weather,  discrimination and insecurity. After five years, he decided that he had had enough and returned home,  where he opened a fitness studio. He now also leads a discussion group where he advises young people  about living in Europe. But they can hardly believe his stories. Singer Annie has a Liberian background, but was born in Italy. With her boyfriend, she forms the duo  PepeSoup, and they mix African rhythms with European tunes. Annie's biggest wish is to visit the place  where her parents were born in Liberia, and to contribute to the country. Binata from Senegal is ashamed that she has to make money braiding hair on a Spanish beach, while she is a trained accountant. She would love to go back home. Our reporter Ssuuna Golooba goes back to Uganda from the Netherlands only to find that returning home  can be as complex as leaving when your family has grown used to the money being sent to them. Home Sweet Home can be seen from Monday, October 3,  at the following times GMT: Monday:2230;  Tuesday: 0930; Wednesday: 0330; Thursday: 1630.

The African Diaspora Sends Huge Amounts of Money to their Mother Countries

• There are approxi­mately 30.6 million Africans in the diaspora.  A major­ity of them are migrants within Africa (14.5 million), whereas 8.2 million and 2 million Africans, respectively, call Europe and the Americas home.
• The African diaspora sends huge amounts of money to their mother countries, estimated at $40 billion in 2010.
• More local African commercial banks should engage their diaspora in innovative ways to bring down transfer costs and mobilize deposits for development purposes.

More than Just Sending Money Home: Engaging the Diaspora as a Priority for Africa's Development        

By: Anne W. Kamau and Mwangi S. Kimenyi

Editor's Note: This chapter is part of the 2013 Foresight Africa full report, which details the top priorities for Africa in the coming year. Read the full report here.
 
Af­rica’s large diaspora has mainly been seen as an asset to African countries only in terms of remittances. However, the African diaspora population is untapped human capital, underutilized as a source of invest­ment, support and human capital, and a resource for advocacy and political pressure.

Anne Kamau and Mwangi S. Kimenyi offer ways for African policymakers to better engage diaspora members in the year ahead.  African governments should take the time and effort to know what their diaspora looks like so that they can target it more effectively.  African banks should look to diaspora members as potential clients.  Also, by building effective and targeted lobbying and advocacy groups, African governments can empower their diaspora in their host countries to influence foreign policies that impact Africa.
 

Money Sent Home To Africa Is For Good

CALL MCJAMEH MONEY TRANSFER TODAY

It is reported that the cost of living in Nigeria continues its climb but the importance of money sent home by relatives abroad is still drastically needed.

Fifty percent of the households investigated across all of the income groups in the main cities of Nigeria such as Lagos are regular recipients of money and goods from relatives living outside of the country. 

Most Nigerian parents are normally supported by their children through funds sent via transfer networks, according to the Global Poverty Research Group. The networks take advantage of the market in which US  Dollar $1 is worth 155 Naira, British Pound £1 is worth 255 Naira.

An interview with an engineering student states that he manages to stay in school thanks to relatives in London.  He goes on to say that since January, many of his classmates have dropped out due to financial problems, “I do not even think we would be accessing the food we eat if it was not for the money they send.”

 Remittances play a key role in stabilizing household food security and access to essential services like education and hospital care in Nigeria, this dependency is not just for the lower income or poverty level – a government registry clerk states that she is equally dependent on money sent by her husband in United Kingdom. “My own salary cannot even buy half of what he sends. He sends money every month and that is basically how the family has managed to survive"

Those receiving money and goods from Africans in the diaspora can afford such luxuries as cars; they can buy houses that are seen as prohibitively expensive in the local context. This is a small but financially sound class that has emerged alongside a growing poor class that can hardly put one day’s meal together.

Understanding International Money Transfer Services

Time is an central concern and needing the money to arrive in a rather immediate timeframe is our specialty.


When an emergency arises and time becomes the most important factor in completing a wire money transfer, it is rather important to know what options might work best for you and your situation.

INTERNATIONAL MONEY TRANSFER SERVICES
A common dilemma which faces Africans in diaspora as well as citizens of smaller countries is sending money internationally. An array of choices does exist for international money transfers, but finding a quick, secure and inexpensive money transfer service is not always easy.

Money Transfer Options

Everyone has heard of the top money transfer companies. Most of the companies have locations throughout the world. Secondary countries have small copycat locations in various locations. The problem with these money transfer service is that you almost always have to perform transactions in person and you must use cash.

This presents a safety issue on both sides, as you become easy prey to those undesirables waiting in the shadows. Some money transfer services will allow you to transfer cash to a bank account, but those are few and far between.

Money transfer services seem to be a better option for people in remote locations who have no bank account and no local address. This service is also suitable for overseas travelers who need quick cash sent from their home.

There are advantages and disadvantages to using money transfer services:

Pros:

1. Multiple locations even in remote areas.
2. Internet access is not required.
3. No bank account is required to send or receive cash.
4. Money reaches the recipient quickly, depending on the location.

Cons:

1. You must pick up cash in person.
2. You cannot transfer money from a bank account or credit card.
3. This is a not a quick fix and not a solution if you send money on a regular basis.
4. Fees can be extremely high.

Cost

When transferring money through a money transfer service, the companies usually charge a percentage of the total amount transferred or a set fee for certain amounts. The amount the recipient receives will depend on the exchange rate and transaction fee that the money transfer agent charges.

This type of service is the best way to send small sums of money, such as on an emergency basis. Considering the fees and the exchange rates, this is not the best option if you need to transfer money frequently.

Other Options

If you have to send money to friends or relatives, consider making a payment to their bank accounts directly. This is an excellent option for people who are unable to travel to pick up money, such as the elderly or those that may live in the village or remote areas

Nigerian Banks Promote Same Day Money Transfers To Safely Send Money To Nigeria

Sending Money via international money transfer can be an easy and convenient way to send and receive money anywhere in the world. 


Direct Bank Deposit Same Day Money Transfer

One advantage of sending funds this way is that the funds can be used to buy goods and services electronically without ever needing to convert the sent money into actual cash. The funds are deposited directly into the receivers Nigerian Bank account.  So they can just use their ATM card-even if bank is closed.

 On the other hand, if the recipient does wish to turn these electronic funds into cash, they can go to the bank

With a population of over 150 million, Nigeria is an exciting environment for finance, with cutting edge technology bringing the Nigerian financial scene into the future.  An increasing number of customers are finding that the need to visit a bank branch or ATM location is not what it used to be, thanks to stellar technological advances.

Banks are moving toward granting users to complete banking transactions using mobile phones and other handheld technologies. Banks in Nigeria  use technology such as text messages to advertise promotions for customers, and alert customers of electronic transactions. The utilization of technology in banking reduces transaction costs and lessens the need for quick branch expansion. Currently, all banks in Nigeria facilitate money transfer transactions.  

This idea of handheld bank technology is called Mobile Banking, and it is assumed that mobile banking will change the bank industry in Nigeria and soon all over the world. Already, 85-90% of mobile bankers do not use ATM or credit cards; they simply use their mobile phone to complete transactions. The technology utilized to make this style of banking possible is the same technology that runs ATM machines, although it is much cheaper to maintain. Nigeria is really on the forefront of this rapidly growing area of finance.

An increasing number of Nigerians are also utilizing the web for bank purposes, although the majority of banking customers utilizing the World-Wide-Web limit their activites to checking statements and assuring whether or not transactions have been completed. The Internet also allows bank customers to interact with bank employees to ask questions and inquire about bank goods and services, although this is not tremendously used so far by Nigerian bank customers.

The banking presence is expanding in Nigeria, as more global banks and financial companies rush to compete for the changing banking needs in the country. Demographically speaking, half of Nigeria's 150 million populace are below the age of 45, so throughout the next many years, a big generation of people will be entering their earning years and will have many banking needs. The banks which find a way to give the services Nigerian banking customers enjoy a influx of new customers and profit in the years to come.

Some Nigerian banks even promote the use of international money transfer services.


   Intercontinental Bank for instance is rewarding their money transfer customers in Nigeria.
  
The Bank explained that "any money transfer customer who uses the Bank’s platforms on or before the end of the promo in July, 2011, stands a good chance of winning from the various household gift items already set aside for the promo." It added that the winning mechanism is determined partly by accumulation of points by customers and the introduction of relations, friends and well wishers.

In a statement, the Group Head, Transaction Banking, Mrs. Busayo Oluyemi, said: "every volume of $10,000, $25,000 and $50,000, qualifies customers to win various household utility items in the Easter Money Transfer Promo".

In the same vein, every volume of $75,000, $100,000, $120,000 and $150,000 qualifies customers to win electonic and other entertainment modules, the release indicated. Mrs. Oluyemi emphasized that the uniqueness of the money transfer promo lies in customers’ ability to choose their preferred gift by accumulating points towards it.

She said the promo mechanics allowed customers to win gift-items anytime before the conclusion of the promo and restart another round of winning streaks. 
The Bank noted that the floating of the Money Transfer Easter Promo is coming on the heels of its on-going I-Save, I-Win Promo, meant to also reward its savings accounts holders/customers in a practical way by allowing for an instant win on lodgment of a minimum of N5,000.00 only.

Why You Should Use A Money Transfer Company To Buy International Real Estate

When it comes to buying property abroad, things can become tricky, for many different reasons. Whatever your needs are for the property, you will, doubtlessly, want the transaction to go smoothly. Because you are dealing with foreign laws and are paying in a foreign currency, a lot of complexities can be added to the situation – and this is why many people choose to use a specialised money transfer service when buying property abroad.

When you use such a service, you will get best possible rates. This is especially important since, when dealing with large sums of money, different exchange rates make a very noticeable difference to how much you are paying. This is important regardless of how many properties you are buying. Another reason you’ll save money is that banks generally charge a lot more than a specialised company will. Many people use banks simply because they are unaware that they have other options available for carrying out the transaction.

Another great reason to use a money transfer company is for security. The last thing you want is for the money you’re sending for the purchase to go missing. Money transfer companies have effective security procedures in place to ensure you will not lose what you send.

At mcjamehmoneytransfer.com, we offer these services for private and business clients, whatever their needs may be. If you are interested in buying foreign property, the whole process with be more secure and a whole lot easier with us.

We Are Specialists In Same Day Money Transfer Services

Mcjameh Money Transfer Services

• Buying Naira & Payment in Pounds or Dollars

• Money Transfer & Western Union Facilities
• Direct Credit of Payments into Bank Accounts
• Payments of Goods

•Money sent from the United kingdom is ready for collection within 24 hours. 90% of all transactions are through the bank to guarantee our clients security. The receiver must show an ID or must know the password to pick up the money at the bank.

The following are requested from every customer sending money to Nigeria:

• name
• address
• amount expected
• sender's name
• sender's telephone number
• city and state
• Valid identification is also required or some restrictions may apply for security purposes.

Because we are specialist in same day money transfer the Safety of your money is our priority.  We offer no hidden charges.

• Mcjameh  money transfer will save you money by giving you a better exchange rate.


• We will save you money by giving you cheaper payment fees and helping you avoid overseas bank receiving charges.


• We will save you money by protecting you against adverse currency fluctuations

WARNING: Money Laundering is a very serious International offence and customers should note that any suspicious transactions will be reported to the appropriate authorities in relevant countries without further reference.

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