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 Archives: Remittances
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 countrywide roll-out of its mobile payment solution in the Republic of Seychelles at the upcoming Connected World Forum in Dubai from 20-21 November. ProgressSoft CEO, Mr. Michael Wakileh, the Seychelles […]
Lower fees and technological innovation have resulted in 60% drop in average transaction value as African diaspora remits smaller amounts of money more often. London, October 2012 – While the overall amount of money remitted to Africa is on the rise, the average value of remittance transactions between the UK and Africa is […]