The move by Bank of Kigali (BK) to put in place policies and mechanisms that will enable members of the Diaspora to send money home without any fees is commendable and will help increase investments as well as foreign exchange.
Remittances from Africans living abroad have continuously contributed to the economy as members of the Diaspora always send money back home.
Money transfer has become big business with numerous channels coming up to facilitate the process. However, the costs involved can at times be high, discouraging some of us from sending money home, the way we would like.
Recently, I was sending some money in Rwanda but the charges were high and had to request a friend, who was travelling to Kigali to deliver the money.
There is no doubt that using Banks is among the most reliable ways to transfer money and for BK to waive the charges is quite something.