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: Remittances
High-level Seychelles delegation and ProgressSoft at Connected World Forum
after nationwide mobile money launch 1000+ mobile lifeline experts gather in Dubai this month The global payment solutions giant ProgressSoft will share details of the […]
Remittances to Africa becoming smaller and more frequent, says expert
Lower fees and technological innovation have resulted in 60% drop in average transaction value as African diaspora remits smaller amounts of money more often. […]