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СНПЧ А7 Курск, обзоры принтеров и МФУ

OPPORTUNITIES AND CHALLENGES OF REMITTANCES AS A SOURCE OF EXTERNAL DEVELOPMENT FINANCE: THE CASE OF REAL ESTATE DEVELOPMENT AND SOCIO-ECONOMIC WELL-BEING IN BUEA SUB-DIVISION

By Kacum Mpame Ashu | Department of Business and Management Studies | Accounting and Finance

ABSTRACT

Remittance has gained currency because it leads to investment and socio-economic-well-being of people in recent years. This study examines the contribution of remittances to developing the housing sector in Cameroon. This study assesses the opportunities and challenges of remittances as a source of development finance, particularly for investment in real estate development and improving the socio-economic well-being of the recipients. The population for this study was remittance beneficiaries and owners of remittance financed buildings for commercial purposes. A population of 160 households was surveyed. This study followed an exploratory and hypothesis testing research design, using primary data collected by means of questionnaire administered to remittance receiving households, informal interview from student hostels and individuals in the various neighbourhoods. The data was summarized or analysed using excel spread sheets and statistical package for social sciences. The findings were summarized in graphs and tables. Chi-square test was used to test hypothesis on the impact of remittance on real estate development and socio-economic well-being of receiving remittance receiving households. The result showed that majority of the respondents used money transfer agencies to receive money from abroad, and the chi-square analysis on the contribution of remittance to real estate development was statistically significant but contribution of remittances to real estate development in Buea for commercial purposes is minimal because most of the structures have been built by those within the country who take loan from credit foncier, big businessmen or those who manage government budgets. The chi square result on the impact of remittance in the socio-economic well-being of the recipients was statistically significant. There exist significant interactions between households receiving remittances and the community to which they belong through multiplier effects, this leads to an overall development in the community. There is need to improve on government policies that facilitates the channelization of remittances .Download 

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