Friday, 3 April 2009

Remittances: An important cushion in a downturn

By Richard Lapper

Published: April 1 2009 17:12 | Last updated: April 1 2009 17:12

For most of the past 30 years, Paulosi Makara has made his living in South Africa, travelling back and forth from his home in Lesotho to the gold and platinum mines of the landlocked republic’s giant neighbour.

But since the 53-year-old was laid off last May, he has been finding it difficult to get work and his family is suffering the consequences.

Mr Makara typically sent home R2,000 ($206) each month from his R4,000 to R5,000 wage packet and the money helped buy groceries, make improvements to the family home and pay school fees for his five children.

But with the money no longer available, three of the older teenagers have been withdrawn from school. Read more

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