4. Electronic Theses and Dissertations (ETDs) - Faculties submissions

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    The impact of Covid-19 on international migration and remittances in developing countries
    (University of the Witwatersrand, Johannesburg, 2023-03-20) Zihindula, Awa; Okon, keminiabasi Eyita
    International migration from developing countries and remittances to those same countries have risen steadily over time due to various factors. Remittance is a source of income for most developing countries. Both sending and receiving countries benefit from migration. However, shocks such as natural crises, pandemics and epidemics (COVID-19 and Ebola) have devastated the economy worldwide, with a high unemployment rate and lower income. This research report aimed to study the impact of COVID-19 pandemic on migration and remittances in developing countries to establish the relationship between inflow remittances and migration outflow controlling for other factors (such as unemployment rate, internet access, economic growth and GDP growth). World Bank data and UNDESA data were used in the study. However, the developing countries were dichotomized as African and non_African countries for an in-depth analysis. The study employed multiple regression model to identify the associations between variables. Results of the study found that in African countries before and during COVID-19, there was no significant relationship between migration outflow and inflow of remittances. Furthermore, the control variables did not have an effect on the dependent variable. For non-African countries, the result shows that COVID-19 did significantly affect the relationship between inflow remittances and migration outflow; when migration outflow increases, there is a decrease in remittances inflow.
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    Blockchain technology and international money transfers into the Nigerian Remittance market
    (University of the Witwatersrand, Johannesburg, 2022) Bah, Aicha; Khumalo, John
    Blockchain has been making a buzz for a moment now. The nascent industry based on a “distributed ledger technology” is being globally explored especially by innovative start-ups and financial institutions looking to benefit from the technology. Revolutionized by the usage of cryptocurrencies in its processes, blockchain algorism is believed to have the potential to indubitably agitate the financial world. The promises of blockchain pretty much touch any domains imaginable provided the necessary resources are allocated towards its implementation. From governmental tools in election processes to individual peer-to-peer transactions, blockchain is being targeted by various parties seeking to extract the obvious advantages, the technology offers. This study focuses on how blockchain technology can benefit the Nigerian remittance market and observes how it has the potential to completely reinvent the financial and money transfer industry. Peer to peer money transfer methods have traditionally been done through financial institutions such as a bank or Western Union. In many regions around the world, especially on the African continent, the charges related to these transfers represent a high cost for the individuals performing them. Additionally, the regulations and required verifications on each step of an operation account for longer processing time. The main objective of this research is to explore an alternative financial solution for cheaper and more efficient remittance transactions internationally. The method used is a combination of desk research and qualitative field research that involves preliminary research on information already available about Blockchain technology, but also interviews with expert on the financial world. This research concluded that Blockchain technology and the use of cryptocurrencies into everyday transactions represents a real chance at entirely transforming the way individuals exchange money. A few limitations were observed in regard to regulations and control over its functioning. Either way, it is expected that both governmental entities and private corporations will lean towards exploring the “true” capabilities of this technology