Overseas migrant workers are a vital element of Cameroon’s economy, with remittance inflows contributing significantly to the country’s progress and economic growth. Globally, personal remittances to the country increased by USD $96 million in 2021, a 29% rise compared to the previous year.1
Data from Zepz shows that its users globally sent USD $300 million to Cameroon in 2022 through its two digital money channels WorldRemit and Sendwave. Many of these personal remittances were directed to families in Cameroon, providing education, healthcare, food, and funded personal development projects.
In Sub-Saharan Africa, improved access to food and overall consumption of goods and services have been linked to receiving migrant remittances, leading to higher household income. This has played a crucial role in fighting poverty, addressing food shortages, and meeting other livelihood needs.2
In addition, remittances contribute significantly to social development, with many amenities such as hospitals, schools, religious facilities, and other community infrastructure benefiting greatly from overseas investments.3
Global remittance service providers like WorldRemit play a significant role in facilitating the smooth and secure transfer of funds to Cameroon. Through advancements in remittance technology, WorldRemit has expanded its services to reach more people around the world, so necessary remittances can reach the end recipient as quickly and efficiently as possible.
Imane Charioui, Director of Francophone Africa, WorldRemit says: “Thanks to WorldRemit, Cameroonians abroad can send remittances quickly and securely, as well as choose the receive method and track the money to the withdrawal points. Recipients can also withdraw nationwide from the multiple cash pick-up locations and have the funds wired directly to their bank or mobile money accounts.”
By
Imane Charioui, Director of Francophone Africa, WorldRemit
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