LIFTING WOMEN OUT OF POVERTY
- 2 hr2 hours
According to the International Monetary Fund remittances from migrants back to their home countries are a lifeline for development with $450 billion in remittances flowing to developing economies in 2017 and a record $554 billion to low- and middle-income countries in 2019 according to the World Bank. While billions of dollars are sent to African countries, that money is not being channeled to the micro and small enterprises, which are the backbone to the economy and whose success is directly linked to regional sustainable economic development. With high percentage fees charges for traditional remittances, this platform will allow Africans abroad to make better use of the money they send home, knowing that that money is being invested back into their community. The platform will first allow women entrepreneurs to register their micro or small enterprise as a potential recipient of investment and it will remain open to new businesswomen. Investors will be able to access the website to make intelligent investment decisions based on the data provided from the businesses, their industries, and proposed use of funding. These local stock exchanges, created in each country, will be reinvesting the money receives in government backed securities so that that money is never lost. They will then make investments in women-led businesses close to their community making a more lasting contribution.