Rwanda is one of the fastest developing African countries. This is to an extent because the government encouraged all people from the diaspora to contribute to the national income of the nation. For development to occur, there has to be sufficient flow of money in the economy to ensure that people spend and save as well.
The diaspora responded to the call with over 100,000 people across Europe, Asia and North America sending money to loved ones and business associates in Rwanda.
Because the government has been positive about the whole phase of advancement, people have increasingly found it more and more convenient to send money back to Rwanda.
Money remittance businesses have benefited from this “pro-money transfer” perception of people in the diaspora that send money back home because they are the core form of sending money from outside Africa.
With Rwanda being a predominantly mobile money influenced economy, remittance companies have to be smart about how they do their business of facilitating money transfer in Rwanda. MTN mobile money is the core form of transferring funds among everyday citizens. Most banks choose to send using Visa Card, MasterCard and other related card systems that don’t really apply to most locals and often lose out on business because of such.
This pushed remittance businesses to tailor their services towards sending money to mobile wallets of the people in Rwanda which has been done through the services provided by DusuPay.
DusuPay : an online platform that aims at streamlining money transfer in Africa has been of immense convenience to Rwanda. Allowing remittance operators to have a wider reach when sending money and ensuring that those in Rwanda receive it through the most convenient of means.