Migrants hit by high fees to send money home - BBC News

Sending money across borders, particularly in Africa, can still be expensive.

1 day agoShareclose panelShare pageCopy linkAbout sharingImage source, RelonImage caption, Jerry Mbokani regularly sends money from Uganda to the Democratic Republic of CongoBy Christine RoTechnology of Business reporterJerry Lukendo Mbokani has to make several calculations when he sends money to his elderly mother in the Democratic Republic of Congo.

In Kampala, Uganda, where Mr Mbokani has lived for 16 years, he first has to buy US dollars. To convert approximately $100 (£80) worth of Ugandan shillings would cost almost $3, he reports.

He also adds the withdrawal fee of $7, so that his mother doesn't incur a fee when receiving the money.

He sends these remittances through mobile money, usually phone-based digital transfers, rather than through a physical location like a bank, post office, or Western Union-style money transfer company. In real terms 10% of the amount could be eaten up in fees.

Mr Mbokani, the chief executive of the Refugee-Led Organization Network (Relon), knows he's far from alone.

https://www.bbc.co.uk/news/business-68817110

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