Home LOCAL NEWS Foreign nationals in South Africa unable to send money home due to...

Foreign nationals in South Africa unable to send money home due to lockdown

PASTOR'S WIFE REJECTS R10M DIVORCE SETTLEMENT

Foreign nationals in South Africa unable to send money home due to lockdown

Many foreign nationals who make up a large portion of low-income earners in South Africa are unable to send money home as a result of the lockdown – and their families are suffering.

PASTOR'S WIFE REJECTS R10M DIVORCE SETTLEMENT

Andy Jury, group chief executive of Mukuru, a fintech firm that operates a remittance service offering customers the opportunity to send money across Africa, said: “It’s not been a one-size-fits-all impact. It depends on the socio-economic segment they belong to and whether they’re still working, such as those in the essential services, but people who’d normally be sending between R500 to R1 000 are now down to about 50%.

“As with all financial transactions post lockdown, we’ve seen an acute impact on our customers’ ability to send money home.”

Chief executive of SFX Money Transfers, Sean Maloney, said: “Before the lockdown, it was estimated that R3 billion was sent out of South Africa every month by Zimbabweans, Malawians, Pakistanis, Bangladeshis, and other foreign nationals.”

Asked how remittances by foreign nationals had been affected during the Covid-19 lockdown, Maloney said: “Typically 80% or more of these transactions are paid for in cash – at major retailers like Pick n Pay, Spar and Shoprite, at around 12000 locations, so with them being largely open there’s still that option.

“The problem has been how to get there, with the lockdown being so strongly enforced. There have also been serious issues such as the short time at banks,” he said.

-IOL

In other news – Marriage Broke My Mom, says Chiyangwa’s Daughter

Chiyangwa’s Daughter ‘Vanessa’ has dished out her father’s dirty laundry for everyone to see.

Vanessa explained her mothers pain in a lengthy Instagram post which Zim247 news is in possession of…full details

Trending On ZIMetro News. . .

    Prophet Magaya Under Investigations Over Allegations Of S.ex.ual Abuse Of Females! Women Affairs minister Sithembiso Nyoni last week revealed that her ministry through the Zimbabwe Gender Commission (ZGC) investigated Prophetic Healing and Deliverance (PHD) Ministries leader Walther Magaya and several companies over allegations of se..xu.al abuse of females. Nyoni said this last week in the National Assembly while tabling ZGC annual reports for the years 2017 to...full details

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.