Remitbee Launches Money Transfer Service Republic of the Congo

By Remitbee - Dec 4, 2021

Mbote! We are constantly working to expand our global reach for online money transfer services, and we’ve recently added the Republic of the Congo to the list of countries that you can remit money to. You can now use Remitbee to get some of the most competitive CAD to CFA franc (XAF) exchange rates and send money quickly and securely to your loved ones. What’s more, transfers of $500 and over are free.

All about the Republic of the Congo

The Republic of the Congo is an African country whose alternative name is Congo-Brazzaville. It is often confused with the Democratic Republic of the Congo, which was occupied by Belgium and known as Congo-Kinshasa. Brazzaville is the name of the capital of the Republic of Congo. It’s on the Congo River and on the other side of the river is Kinshasa, the capital of DR Congo. The Republic of the Congo was a part of a federation of possessions called French Equatorial Africa. These four territories existed from 1910 to 1959. However, the Portuguese arrived as far back as 1482. Brazzaville has seen plenty of war and conflict, and in WWII formed the base of France’s military on the continent. Civil war and unrest has also plagued the country for many years. The current borders of the countries in the region around the Republic of Congo reflect colonial dividing lines. What is now the Republic of the Congo was called the Congo Republic, and before that, Middle Congo.

In 1960 the Republic of the Congo finally became independent and its first president was Fulbert Youlou. Independence has not meant the end of challenges, however as 50 percent of the Congolese are classified as below the poverty line by the World Bank. This is despite the fact that the country has significant oil production. Most of the country’s GDP, in fact, comes from oil. There is a significant wealth gap, and the GDP growth is not promising. Other than petroleum, the economy is based on support services, agriculture (mostly in villages) and handcrafts. Recently, there has been an effort to increase transparency in the oil sector, which is hoped to lead to greater prosperity for ordinary Congolese.

Congolese holidays and festivals

One day that unites the country each year is Congolese Independence Day. On August 15 the people of Congo come together and celebrate resilience and show their love for their country. There are parades open to the public in all of the Congolese cities across the nation. In the capital, people attend the parade on Le Boulevard Alfred Raoul and watch the soldiers, politicians and important government figures. Some even take part in the parade, but the majority prefer to watch from the sidelines.

Congolese Canadians

Historically, there have not been accurate records of the African community in Canada. Numbers have been underreported. Still, the census recorded over 200,000 people who claimed African heritage at the time data was last available. The total number of recent Congolese immigrants in Canada as of 2016 was 2,460. The majority of immigrants from the Republic of the Congo (1,720) live in the province of Quebec. There are also some in other smaller communities around Canada. A significant number (360) live in Ontario. After this, the largest numbers of Republic of the Congo immigrants live in the provinces of Alberta (155), Manitoba (75) and British Columbia (65). Many Congolese in Canada still maintain ties with their home country. For Congolese in Canada looking to exchange CAD to CFA franc (XAF), Remitbee can help. We offer high security, low and transparent fees, and a good exchange rate on Canadian Dollars to CFA franc (XAF). Our transfers also go directly to Congolese bank accounts.

Partner banks in the Republic of the Congo

There are eight banks in total in the Republic of the Congo. The Central African CFA Franc (XAF) that the Congolese use is used in six countries, including Cameroon, Central African Republic, Chad, Equatorial Guinea, and Gabon. These countries are members of the central African currency union. The Bank of Central African States (BEAC) in Cameroon is the central bank for the currency. Major banks in the Republic of the Congo include Banque Commerciale Internationale (BCI), BGFIBank Congo (BGFI), Bank Congolaise de l'Habitat (BCH), Crédit du Congo (CDC) and Ecobank.

Sending money to the Republic of the Congo for a low fee at a great exchange rate is what Remitbee is all about. We offer easy CAD to CFA franc (XAF) transfers. Your money will be sent quickly and in a secure manner directly into a Congolese account.

Just sign up and verify your account with your family or friend's info to initiate a transfer. We’ll handle the rest.

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