Tag: remittances
-
Remittances into Ghana shoot up despite impact of COVID-19 on jobs abroad
Data from the Bank of Ghana made available to Citi Business News shows that the flow of remittances into the country went up marginally within the first half of the year, compared to the same period in 2019 despite the impact of COVID-19 on jobs both home and abroad. The remittances for the first half…
-
Remittances surpass FDI flows into sub-Saharan Africa
Remittance flows into Sub-Saharan Africa (SSA) increased by 10.3% to US$46.2bn in 2018, and provisionally rose again in 2019, according to updated World Bank figures released in October. The sum comfortably surpassed foreign direct investment (FDI) inflows of US$31.6bn in 2018—based on the latest World Investment Report from the UN Conference on Trade and Development…
-
Operators want cap on global money transfers reviewed
Some players operating in the mobile money sector are calling on the Bank of Ghana to review the limit of transactions that is currently permitted on remittances done via mobile money. They believe such a move will promote inter-regional trading activities. According to the proponents, the current limit of 500 dollars per transaction is low and restricts business…