There are high costs associated with cross border money transfers.
South Africa is the most expensive country in the world to send money out of. According to the World Bank, the average cost to send the equivalent of $200 from South Africa to SADC countries is 18.69 percent. The global price average is 8.9 percent.
On #NightTalk, Gugs Mhlungu and Sizwe Dhlomo spoke to Raphael Grojnowski, Founder and Director of Mama Money about the company's low cost system.
Listen to the interview below.
This article first appeared on 702 : Money Matters: How cross border money transfers can be made easier