Migrants Remittances Luxembourg-Cape Verde

This presentation discusses the flow of migrant remittances between Luxembourg and Cape Verde. It highlights that migrant remittances from Luxembourg are:

• Payments across borders;
• Transfer of money from the richer to the poorer;
• Small and frequent in nature;
• Second largest capita flow after Foreign Direct Investments.

The presentation further analyzes:

• Remittances from Luxembourg to Cape Verde;
• Microfinance sector in Cape Verde.

Finally, it provides an action plan for:

• Improving the weak image of the banking sector:
  • Having a specialized front-office desk;
  • Signing a partnership with Money Transfer Organizations (MTO).
• Satisfying target customers:
  • Reaching their expectations;
  • Conducting market studies;
  • Addressing savings and quick transfer needs.
• Spurring community awareness:
  • Targeting the Capeverdean community;
  • Providing accurate media communication;
  • Sponsoring cultural events;
  • Partnering with the Capeverdean banks.
• Encouraging microfinance funding with specific savings accounts.