Transfast, whom you may remember us reporting on last year, is on a mission to further promote and advance services offered to and between Africa and its diaspora in 2016. The new rates are part and parcel of that mission. An effective, affordable money transfer service between Africa and its diaspora is significantly more important than it may it first appear, as—according to World Bank’s Migration and Development Brief—Africa in actual fact annually receives billions of dollars in cash [$32.9 billion in 2014] from its diaspora.
Transfast provides a platform for sending funds between countries, including such as Nigeria and the United States, efficiently and cost-effectively. Last year, the company furthered its undertaking to support African dual entrepreneurs [members of the African diaspora in the United States who not only have businesses in the States, but who also send money back home to Africa to fund various undertakings], through the #TransfastPromise initiative, which focussed specifically on Africa by showcasing dual entrepreneurs and encouraging grassroots community building on the continent.
In addition to offering improved rates for transfers between Africa and its diaspora this year, Transfast Africa is set to continue its work in promoting entrepreneurship in Africa, including partnering with start-up accelerators in Nigeria to groom and grow up-and-coming entrepreneurs and further showcasing, promoting and uplifting African dual entrepreneurs. Watch this space for more information.
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