Around 164 million people work abroad. Many of them support families and help their homeland by sending billions in remittances. Now new technology is making it easier; using it will help the next generation.
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Every year, Africans who live abroad send billions of dollars to their families back home. But the COVID-19 crisis means these remittance flows have dried up. For some, the consequences could be fatal.
Money transfers from exiled Cubans living in the United States are crucially important for their families back home. But a recent US ban on remittances is forcing Cubans to go digital to keep dollars rolling in.
US-based tech giants and China are helping to fund the development of Africa's digital infrastructure revolution. Do the potential benefits outweigh the risks?
Many African countries could default on debt payments due to increasing repayment costs, precipitated by weak currencies, a ripple effect of the pandemic. But it may also spark digitalization across the continent.
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