DeniAfrica

MicroCapital reports:

Traditionally remittance services have been dominated by money transfer services like Western Union and Commercial Banks. However the use of these services doesn’t directly benefit the poor, as they do not get the benefit of savings. Money transfer services do not offer bank accounts while the poor do not have the credit profile to have savings accounts in these banks. Linking remittance services to Credit Unions permits the development of a whole new generation of micro-savers, who have the security of a savings account and the opportunity to use their savings as leverage.