Sat, 17 Jun 2017 11:16:31 +0000 By BUUMBA CHIMBULU ZAMBIA is among the seven African countries with high cost of sending money from the United Kingdom (UK) with an average cost of £120 (approximately K1,000), this is according to the Financial Sector Deepening Zambia (FSDZ). Other countries mentioned are Eritrea, Tanzania, Rwanda, Ethiopia, South Sudan and Gambia. FSDZ Zambia chief executive officer, Betty Wilkinson, said about £7 million was remitted each year by 30,897 Zambians living in the UK but at a high cost. “In Zambia, £7 million is sent each year by 30,897 Zambians living in the UK. The average cost of sending £120 from the UK to Zambia is 13 percent, one of the highest average costs in the region, and almost twice as much as sending money to neighbouring Zimbabwe, where it costs just 7 percent,” she said. Ms Wilkinson said the survey conducted by the Financial Sector Deepening Africa on “Reducing […]
