Research on remittances has shown that it is an important source of income for most developing countries and the growth of their economies.
There are many positive impacts that remittances from abroad bring to Ghana such as :-
- Foreign exchange from remittances helps reduce the current account deficit.
- Remittances have also impacted the Ghanaian economy through investment.
- A large proportion of international financial transfers to Ghana are used
for consumption and recurrent expenditures.
- At the community level, remittances sent by hometown associations and individual migrants are used to finance community development projects.
How payments are made in Ghana
Ghana has a host of payment alternatives within the country with mobile money being among the most popular forms of money transfer. This is because it cuts across all social and economic boundaries to serve all, wealthy or poor and in remote areas. The main mobile money payment platforms are Tigo money, Airtel money and MTN Ghana.
How successful remittance companies in Ghana carry out their pay outs
Remittance companies have opted to connect with popular and established mobile money platforms courtesy of DusuPay.
Mobile money through DusuPay
Through DusuPay, remittance companies can pay out to a larger number of people in need of remittances. These remittance companies pay out to the people on their mobile phones thus promoting simplicity credit to DusuPay.
DusuPay Octopus https://www.dusupay.com/octopus