Africa fastest-growing source of Kenya diaspora dollar inflows

Cash sent home by Kenyans working in African countries became the fastest-growing source of the nation’s diaspora dollar inflows last year at a time when overall remittances grew by the slowest pace in four years, largely hurt by elevated inflationary pressures on earnings in the US and Britain. Cash wired home by Kenyans in other […]

FATF puts Kenya on money laundering ‘grey list’

Kenya has again been put under high watch for not having strong safeguards against the flow of dirty cash, joining 23 other countries in a list of shame known as the ‘grey list’. On Friday, the Finance Action Task Force (FATF), the global anti-money laundering watchdog, made a decision to put Kenya on the grey […]

Migrant Contributions for Development Call for Proposals 2024 for Tajikistan

Under PRIME Central Asia, the Financing Facility for Remittances (FFR) is pleased to launch the Migrant Contributions for Development Call for Proposals 2024 (CfP24) for Tajikistan: Leveraging remittances to foster financial and digital inclusion, and support the sustainable reintegration of migrant returnees for local economic development in rural areas. The CfP24 aims to address development […]

EU and IFAD launch new initiative to strengthen financial inclusion by boosting digital remittances in Central Asia

In partnership with the European Union (EU), the International Fund for Agricultural Development (IFAD) launched the Platform for Remittances, Investment and Migrants’ Entrepreneurship (PRIME) Central Asia Initiative in Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan, to maximize the socio-economic impact of remittances, the hard-earned money sent home by migrant workers. “Remittances hold an enormous potential to […]

Migrant Contributions for Development Call for Proposals 2024 for the Kyrgyz Republic

Under PRIME Central Asia, the Financing Facility for Remittances (FFR) is pleased to launch the Migrant Contributions for Development Call for Proposals 2024 (CfP24) for Kyrgyz Republic: Leveraging remittances to foster financial and digital inclusion, and support the sustainable reintegration of migrant returnees for local economic development in rural areas. The CfP24 aims to address development opportunities […]

Improving access to remittances via better risk assessment

The Remittance Access Initiative (RAI) with IFAD’s Financing Facility for Remittances are helping #remittance services providers in #kenya to improve their risk assessment of potential customers and expand access to formal remittances.

Improving remittance access by digitising receipts in Uganda

Digitalizing a paper-based money transfer form has made it easier, and faster for people in #uganda to access their #remittances. This digitalization exercise was undertaken as part of the Remittance Access Initiative that Cenfri is implementing with IFAD.

Community Pass Customer Summit pushes for digital & financial inclusion

Mastercard’s second annual Community Pass Customer Summit in Kampala, Uganda gathered more than 90 public and private sector partners and featured thought leaders. The attendees are all dedicated to crafting solutions for digital and financial inclusion across Africa and beyond. This year’s summit showcased over 10 technologies and financial institutions, each presenting their digital solutions […]

The IMF’s perspective on CBDCs

New forms of money and new technologies have the potential to improve payment systems, enhance financial inclusion, and facilitate cross-border payments. In particular, central bank digital currencies (CBDCs) have gained significant attention, with approximately 60 percent of countries exploring their potential. The IMF has a unique view across these efforts and we have done our […]