Reducing Remittance Costs to Africa: A Path to Resilient Financing for Development
English
Remittances are vital financial resources for Africa, surpassing Official Development Assistance and Foreign Direct Investment. However, the exorbitant transfer costs hamper their potential. This op-ed highlights solutions to address these challenges, including fostering competition, developing remittance ecosystems, and promoting mobile money transfers to maximize the impact of remittances, empowering African families and accelerating the continent's development.