“Bitcoin startup Beam, headquartered in Ghana’s capital Accra has created a product that will enable the Nigerian, and Ghanaian diaspora communities in the UK remit money home instantly and affordably. Each year the close to 100,000 Ghanaians in the UK send about US$ 23 million homeward. Nigerians in the UK who number close to half a million send US$ 3.8 billion home.
According to a report commissioned by Citizens International and published by the United States Agency for International Development, the main reasons for sending money home is to take care of basic needs such as food, shelter and clothing for a parent.”
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