Remittances are a vital cog in the African economy, but they remain relatively costly compared to the rest of the world. Despite this, investment bank DAI Magister sees African remittances primed as a market primed for investment, and predicts it will grow to $500bn by 2025. For Risana Zitha, Managing Director and Head of Africa at DAI Magister, the shift to mobile money will bring a wave of innovation, lowering remittance costs and propelling the market to new heights.
Tag: mobile money transfers
Affordable digital banking to revolutionise price-sensitive East African payments market
In a region still dominated by cash and mobile money options, like M-Pesa, new collaborations between fintechs are looking to capture the price-sensitive market with […]
Airtel Africa’s Mobile Money Business Gains $100m Investment from Mastercard
Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the signing of an agreement […]
Mobile Money Accounts Grow to 1.2 Billion in 2020
GSMA has published last week its annual ‘State of the Industry Report on Mobile Money’. It reveals a dramatic acceleration in mobile transactions during the […]
The Rise Fund to invest $200 million in Airtel Africa’s mobile money business, at $2.65 billion valuation
Airtel Africa to explore potential listing of mobile money business within four years. Airtel Africa, a leading provider of telecommunications and mobile money services, with […]