Monday, 18 January 2010

CAMEROON: Remittance from Cameroon Migrants Fuels Exotic Domestic Lifestyle

Economic Importance of Remittances

By Ernest L. Molua

Remittances, the portion of migrant workers’ earnings sent home to their families, have been a critical means of financial support for generations. For the most part, these flows have historically been “hidden in plain view”, often uncounted and even ignored. Remittances from Cameroon diaspora are now playing significant role in the socio-economic development of the country.

The impact of remittances is now recognized in Cameroon as constituting an important flow of foreign currency and directly reaching hundreds of thousands of households. Nowhere has the impact been felt more than the agricultural sector and rural areas that employ 70 percent of Cameroonians. However, for remittances to continue financing consumption and investment, such as in education, agricultural and housing projects, among others, the wiring channels and financial intermediaries must be assisted to provide better services
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  1. Remittances are the main sources of funding in Africa and Cameroon in particular. With little to no industry doing inhouse production, the flow of funds from abroad is key to the survival of the nation. Wish government would modernize taxation to ignite growth

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  2. Here is how Cameroonians in Diaspora can use a small portion of their remittance for medical care of loved ones in Cameroon. MyDoctorCameroon provides care-plans starting January 2012. A doctor will visit your loved ones at their homes (Cities, Towns and villages)Visit and acquaint yourself on how it works.

    How does it work? We will be providing more details shortly, but here is a start:​m/how-it-works/

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