High money transfer charges attributed to lack of competition with two operators— Western  Union and  MoneyGram—controlling almost two thirds of the remittance market in Africa. Photo/FILE

The Big Story

Africa loses $1.8bn in high money transfer costs a year

Posted 1 day ago

Africans living abroad pay two times more than people from other continents to send money home, costing them $1.8 billion annually....

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