More than 250 million people (or 3.4% of the global population) live outside their countries of birth. For whatever the case, people often leave their homes and seek better opportunities overseas – these migrants have people they rely on back in their home countries and have to send money to home every once in a while to ensure their welbeing.
In Cameroon, remittances could only be sent through two main channels: banks and money transfer operators (MTOs) or what could be called remittance companies. The remittance industry has evolved in recent years with mobile operators and fintech companies providing more accessible options for the locals.
With alternatives such as DusuPay, people in Cameroon no longer feel left out as they offer more convenient and cheaper methods of sending remittances via mobile wallets therefore not isolating the greater majority of the population that is unbanked.
Financial innovations like DusuPay have been put in place to streamline Africa’s money transfer system, enabling remittance companies to directly send money to people’s mobile wallets therefore ensuring that they can access it any day and any time with ease.