Annette Abena is a Growth Manager at Sendwave, an international remittance app enabling Africans in the diaspora to send money home fast, securely and affordably. She is also a content creator focusing on tech and business in Africa. She founded the podcast “Diaspora Talks” and also has a weekly publication called “Diaspora Talks Newsletter“.
KEY LINKS AND TAKE AWAYS
Remittance means payments. World Remit was established in 2009 by an Somalian entrepreneur
People in the Diaspora are the biggest investors in the continent
Remittance apps takes friction and education to use, hence Moneygram and Western Union are still more popular with the the older generation
Sendwave is a remittance platform, popular in Africa. Has a no-fee model. Just expanded into Asia recently. Sendwave makes a small profit on the exchange rate. Biggest markets for Sendwave are their most mature ones.
Nigeria takes up over 50% of remittances of sub-saharan Africa in terms of volume
Remittances play a huge role in some countries GDP-outdoes aid and other things.
The black market in Nigeria is popular now and has impacted remittance levels because of the Nigerian central market.
Purely digital, No-fee model Sendwave was one of the first to do this in the market.
Annette’s desire to learn more about what Diasporan entrepreneurs are doing on the African continent lead to the creation of her podcast Diaspora Talks.
Lagos has produced the first African unicorns and the first African international acquisitions such as with PayStack
Agritech and Fintech are the tech industries to look out for, disrupting the African continent
Find her blog here:https://medium.com/@annetteabena/
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