Microfinance and Money Transfers from Migrants Workers (Part II)

Can microfinance facilitate money transfers in Cape Verde?
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This presentation discusses the results of a study on various forms of money transfers, and their impact on microfinance sector in Cape Verde. The study intends to:

  • Understand the transfer of money between Luxembourg residents of Cape Verde to their home countries;
  • Measure the importance of such transfers;
  • Study the possible interconnection between money transfers and the microfinance network in Cape Verde.

The presentation states that money transfers can be improved by:

  • Bettering the knowledge of the residents in Luxembourg;
  • Improving and formalizing the access to financial institutions in Cape Verde;
  • Reducing the transfer costs.

The presentation concludes that there is a need to:

  • Analyze other modes of transfers from Luxembourg to other countries;
  • Stimulate these transfers;
  • Promote the image of the microfinance sector;
  • Ensure a local follow up to assist the sector.

About this Publication

By Bultez, P.