Paper
Microfinance and Money Transfers from Migrants Workers (Part II)
Can microfinance facilitate money transfers in Cape Verde?
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10 pages
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.
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