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Summary

In recent years, remittances have emerged as a vital financial resource for families and communities across Africa, contributing significantly to economic stability and development. In 2023 alone, Africa received almost $100 billion in remittances, highlighting their strategic importance despite being largely untapped. However, high transfer costs averaging around 9% remain a notable barrier.

Digital remittances have gained significant traction due to the proliferation of mobile networks, the emergence of fintech startups, and initiatives promoting digital payments. As a result, the volume of remittances to Africa has grown steadily over the past decade. It has facilitated easier and more cost-effective transfer methods, facilitating financial inclusion and promoting the development of an entire related ecosystem.

The transition into the digital age and the adoption of digital remittances present a new set of challenges. From regulatory challenges to cybersecurity concerns, the journey toward digital remittances is fraught with hurdles. Yet understanding these challenges is the first step toward overcoming them and unlocking the potential of digital remittances.

This webinar aims to shed light on the considerable developmental potential of the digitalization of remittances, positioning them as pivotal contributors to Africa's development agenda.

Join us for this insightful discussion as we uncover how embracing the digitalization of remittances can catalyze economic growth and empower communities across Africa.

Archived Video Recording