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How Yonna Forex Has Streamlined Remittances To The Gambia From Overseas In Collaboration With ACE Money Transfer

10 Jan 2024


A report by USAID, while discussing the geography of the Gambia, said that the Gambia is a West African country. It is surrounded by Senegal. The same report said that the Gambia is the smallest country in mainland Africa and has a population of a little over 2 million.

About 10th of the Gambia’s total population live abroad, according to the report, as migrants to earn a living, and these migrants send money to Gambia to support their families financially back home.

These Gambian migrants contribute over 20% of the country’s GDP through remittances they send back.

The Flow of Remittance

Though the flow of remittances and the amount is relatively low, albeit it is enough to augment the teetering economy of the country. In addition to that, the best part is that the flow of inward remittances is smooth, continuous and unhindered.

Do you know why?

It is simply because of the professional liaison between Yonna Forex and some of the best online remittance transfer services, including ACE Money Transfer.

That both service providers have oriented and adjusted their services according to the needs and requirements of their customers and have helped streamline the flow of remittances into the Gambia.

This blog will shed light on how Yonna Forex and ACE Money Transfer have helped boost remittances.

First, let’s take a look at a few reasons why the Gambians migrate to foreign countries for work.

Why Do The Gambians Migrate Abroad For Work?

A few important reasons for migrating abroad from the Gambia are discussed below.

Lack Of Opportunities

With a total population of about 2 million, the work opportunities for the people are also less. Of course, the entire population is not of employable age nor have all the requisite skills and education to get jobs.

Therefore, the job market across the country is small, offering few opportunities.

Deep Poverty

Lack of opportunities leads to poverty which is acute in the Gambia. A large population struggles to put food on the table. Therefore, some families that can manage their meagre resources send a family member abroad to earn a living to support their families back home through a money transfer to Gambia, whose repetition they keep regular.

Lack Of Quality Education

It is a problem that most developing countries largely share. It is one of the factors that when migrants from these countries travel abroad, they cannot find proper jobs due to a lack of proper and formal education and rather end up getting laborious work.

It further leads to a drop in remittances.

Here is, however, how you can find suitable job opportunities abroad as a Gambian migrant.

Remittances To The Gambia

Dr Abdoulie Sreh Jallow, the first deputy governor of the Central Bank of the Gambia, said that the Gambian diaspora is committed to the cause of nation-building, and they are playing a critical role in the socio-economic development of the country.

He revealed, however, that the Gambian diaspora had sent in $712 million as remittances to the country in 2022.

The Gambian Economy

  • In 2021, the nominal Gross Domestic Product (GDP) of the Gambia was $2.04 billion, a World Bank report revealed.
  • Another World Bank report said that the GDP per capita income in the Gambia in 2021 was $772.2.

These statistics point to a flailing Gambian economy which is one of the core reasons the Gambians travel to developed countries for work.

Now let’s see how Yonna Forex and ACE Money Transfer have designed their services to facilitate the flow of remittances back to the Gambia.

A Look At The Collaboration Between Yonna Forex And ACE Money Transfer

Here’s how the two remittance service provider giants have joined hands to facilitate remitters.

Yonna Forex Bureau Exchange

It is one of the biggest money transfer services in the Gambia, with 52 branches across the country. It is, therefore, no wonder that a majority of the recipients of remittances sent by the Gambian migrants are Yonna Forex’s customers, despite the presence of several other such institutions.

ACE Money Transfer

With millions of customers from across the world and an operational presence in over 100 countries worldwide, ACE Money Transfer is considered to be one of the best remittance transfer service providers in the global remittances industry.

Several of its service features have brought many new customers to the company, whose number is only increasing. It is one reason why the Gambian expatriates choose ACE Money Transfer for their online money transfer to Gambia.

Let’s now see how the two institutions have designed their services similarly around the needs and requirements of their respective customers.

A Glimpse Of Collaboration Between ACE Money Transfer And Yonna Forex

  • Both service providers are present to dispense services round-the-clock to facilitate their respective customers.
  • Both companies are almost omnipresent, with Yonna Exchange present in the country with 52 branches, which is akin to the branches of a bank, whereas ACE Money Transfer is operationally present in over 100 countries worldwide.
  • Both institutions offer live and competitive currency exchange rates as they have linked them to the international market, where these keep fluctuating, allowing you to initiate a transaction when the rates are in your favour.
  • Both companies charge a low fee for their best-quality services. 
  • Both companies offer safety in their services. Whether you pick up money from Yonna Exchange or send it through ACE Money Transfer, the safety of your money is guaranteed.
  • Both service providers deliver funds faster than other service providers.
  • The services of both companies are available virtually too. So, if you want to track your transactions from either end, you have the access to their services through their respective apps and official websites.

These are some of the service traits these institutions share and have thus joined hands to facilitate the flow of inward remittances to the Gambia.

ACE Money Transfer – To Liaise To Facilitate

In addition to offering all the features explained above from just one window, if you choose ACE Money Transfer to send money to Gambia online, the company’s professional liaisons with other reputable institutions in the Gambia will facilitate you and streamline the flow of remittances in ways you like.

FAQs

What is the collaboration between Yonna Forex and ACE Money Transfer, and how does it benefit remittances to The Gambia?

Yonna Forex's collaboration with ACE Money Transfer aims to provide a seamless and efficient channel for sending money to The Gambia from overseas. The collaboration benefits senders with competitive rates and easy access to remittance services.
 

How can I use Yonna Forex's services in collaboration with ACE Money Transfer to send money to The Gambia from overseas?

You can use Yonna Forex's services to send money to The Gambia by visiting their authorized outlets or using their online platform. They have integrated with ACE Money Transfer to provide a reliable and secure channel for remittances.
 

Are there any special features or advantages to using Yonna Forex in collaboration with ACE Money Transfer for sending money to The Gambia?

Yonna Forex, in collaboration with ACE Money Transfer, offers competitive exchange rates, low fees, and a user-friendly platform for sending money to The Gambia. They also provide reliable customer support for any assistance you may need.
 

How long does it typically take for remittances sent through Yonna Forex in collaboration with ACE Money Transfer to reach recipients in The Gambia?

The time it takes for remittances to reach recipients in The Gambia may vary depending on the destination, the chosen transfer method, and any local banking processes. Yonna Forex can provide you with information on estimated delivery times.
 

Is there any specific information or documentation required to use Yonna Forex's services in collaboration with ACE Money Transfer for sending money to The Gambia?

To use these services, you may need to provide identification and other necessary documentation as per regulatory requirements. Yonna Forex's website or authorized outlets will have information on the specific requirements for your remittance.


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