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.
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.
A few important reasons for migrating abroad from the Gambia are discussed below.
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.
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.
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.
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.
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.
Here’s how the two remittance service provider giants have joined hands to facilitate remitters.
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.
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.
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.
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.
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.
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.
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.
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.
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.