Most Companies Are Operating in Loss” | Why Nepal’s Remittance Companies Are Quietly Dying
About this episode
Ritesh Mittal discusses the challenges facing Nepal's remittance companies and the broader implications for the economy.
$11.5 billion flows into Nepal every year through remittance. More than half of it never enters the formal system. And the companies legally processing the rest are operating at a loss. Ritesh Mittal has spent 21 years inside this industry. In this episode he tells us everything the industry does not want to say out loud. The informal economy, the collapsing margins, the Middle East risk, the skill development opportunity, and why the next big solution will come from a young Nepali willing to treat this problem as a personal mission. This conversation is a mirror held up to Nepal: its ambitions, its failures, and the window of opportunity that is still, just barely, open. The clock is ticking, the money is moving, and Nepal needs to decide what side of history it wants to be on. In this episode of The Doers Podcast, we talk about: -Nepali diaspora sends $11.5 billion home every year, and more than half of it never enters the formal system. -Why has one of the most critical industries in Nepal been operating at a loss for years, and nobody is talking about it? -What happens to Nepal's economy the day Middle East instability forces millions of workers to come home? -How does a…
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