What is the Role of Remittance in Economic Stability of Gambia and Other African Countries?

In 2015, the United Nations devised a method to eradicate poverty around the globe by forming some sustainable goals. Although overseas send money to Gambia, Ghana, Nigeria and other countries daily, still the poverty rate is high. These goals outline the primary rights that individuals belonging from every state surely deserve.

What Are the Different Goals That African Countries Deserve?

They include;

· Zero Hunger

· No poverty

· Gender equality

· Good health and essentials for well-being

· Clean water and appropriate products/services for sanitization.

· Quality Education

· Affordable and usable energy

· Economic growth

· Growth in industry, infrastructure, and decent work

· Well-being of life on land

· Well-being on life below water (Sea-life)

· Peace and justice for all

· Unbiased Opportunity for partnerships

The 17 economic sustainable goals are the road to success for underdeveloped and developing states, which are usually ranked in low-income countries.

The remittance industry undoubtedly influences government decisions, market situations, and economic states directly or indirectly. In the Sub-Sahara region, there is usually a high rate of poverty, and many people are deprived of basic needs.

What is the Impact Of Remittances In Fulfilling The Needs Of African Region?

However, thanks to remittances, the significant effects of foreign income in Africa are evident. The most important include eradicating poverty. Here’s how international money transfer to Gambia is helping in doing so;

· Remittances allow the receiving families to acquire a better lifestyle overall due to the availability of adequate finances.

· In Gambia, there is an extreme shortage of clean water, which is also a reason for malnutrition in the state. Remittances help to lift families from poverty. People can buy good food and have a healthy lifestyle.

· It allows the Gambians to help their kids or loved ones in gaining a quality education.

· It enables people to gain basic needs of life, such as clean water, usable energy, and safe eatables.

On the community level, there are usually not many visible impacts, but it doesn’t mean that they aren’t real. Money transfer services also play an inevitable role in fulfilling this goal.

How Ace Money Transfers Help People To Send Money To Africa At The Cheapest Rates?

· Optimized exchange rates, helping you to get maximum returns against your transferred currencies.

· The transfer app to send money to Gambia online helps them in avoiding transfers at bad times.

· Costing policies are transparent, which means the payment shown at the currency conversion calculator is the same as the payment, which is withdrawn by the beneficiary.

· The ratio of people having smartphones in Africa is generally more significant than the rate of people having bank accounts. Keeping this in consideration, online transfer channels are effectively available in all over the sub-Sahara region.

· There is no need to wait for weeks when you have to send payments to Africa. Their service of online money transfer to Gambia helps people to transfer payments within minutes!