Migrants Remittances Luxembourg-Cape Verde

How to facilitate migrant remittances from Luxembourg to Cape Verde?
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This presentation discusses the flow of migrant remittances between Luxembourg and Cape Verde. It highlights that migrant remittances from Luxembourg are:

  • Payments across borders;
  • Transfer of money from the richer to the poorer;
  • Small and frequent in nature;
  • Second largest capita flow after Foreign Direct Investments.

The presentation further analyzes:

  • Remittances from Luxembourg to Cape Verde;
  • Microfinance sector in Cape Verde.

Finally, it provides an action plan for:

  • Improving the weak image of the banking sector:
    • Having a specialized front-office desk;
    • Signing a partnership with Money Transfer Organizations (MTO).
  • Satisfying target customers:
    • Reaching their expectations;
    • Conducting market studies;
    • Addressing savings and quick transfer needs.
  • Spurring community awareness:
    • Targeting the Capeverdean community;
    • Providing accurate media communication;
    • Sponsoring cultural events;
    • Partnering with the Capeverdean banks.
  • Encouraging microfinance funding with specific savings accounts.

About this Publication

By Guarniero, J.