Remittances are financial transfers from people living and working abroad to their families and communities in their home countries. In Africa, remittances are a significant source of income for many households and communities, and play a vital role in supporting economic activity and development in low and middle income countries.
Sending money from Canada or anywhere in the diaspora to Africa can be a daunting task, especially if you're unfamiliar with the process. However, with the right guidance, you can avoid common mistakes and ensure that your money reaches its destination safely and efficiently. Here are common mistakes people make
The Immigration and migration story is not novel to us. Far back to prehistoric times, homosapiens have always migrated from one place to another. And even though many of these migrations are fueled by numerous reasons like climate change, natural disasters, wars, and others, one primary motive for immigration is
Helping others is more than a passion for Oluwafemi, a Nigerian-Canadian immigrant. As a CDC Ambassador at Value Village, he receives and recycles clothes, shoes, eating and cooking utensils, home appliances and the likes from non-profit organizations in Canada and the US and resells them at subsidized rates to customers.
In Nigeria, there is a controversial slogan amongst the young populace which says; “school na scam.” This saying connotes that education is unyielding and in many ways does not offer considerable success in life. Obviously, paladins of education debunk this statement, although everyone agrees that graduate & postgraduate education is not
The average Nigerian immigrant residing in Canada has a voluminous array of self justifications for leaving his country, one of which is earning in a higher stable currency and sending part of these earnings home to support their loved ones. Eloho Awelewa is no different. A seasoned and multi-faceted administrator,
One of the many limiting factors in sending money from Canada to Nigeria is the exchange rate friction in the transaction process. Africhange regularly notifies you via email about its latest CAD to naira exchange rates and provides a transparent money transfer process with no hidden fees. Read on to
Receiving money from abroad has become the need of a lot of Nigerians living in Nigeria, especially amidst the ongoing economic instability. The impact of remittances can't be understated, especially as remittances represent 6.1% of Nigeria’s GDP. The CBN released a circular in November 2020 wherein it announced
On the 5th of February, 2021, the Central Bank of Nigeria (CBN) released a ruling that ordered all financial institutions to stop any cryptocurrency transactions, and on the 25th of October same year, Nigeria's digital currency, e-Naira was launched, making it one of the only few countries and the first
We are excited to introduce the Africhange wallet. The introduction of the wallet feature is the first in a series of updates that will make using the Africhange platform a much more interactive and collaborative experience. What is the Wallet feature? This feature involves streamlining the interface to make it
If you are a regular user of online remittance platforms, chances are you have noticed that the range of remittance methods available for use has grown considerably over the last couple of years. With COVID-19 restricting travel and increasing the need for hygienic and contactless transactions, the amount of remittance
Security is of utmost importance when using an online money transfer platform. At Africhange, you can rest assured that your funds are in safe hands. Read on to learn what makes Africhange a secure international remittance application. Africhange: A Blockchain-Powered Application Africhange enables users to send money across borders without