New app ‘PostalPay’ will slash the cost of sending money from Europe to Uganda
The UN’s International Fund for Agricultural Development (IFAD), Inpay, a cross-border payments company, and its subsidiary company Eurogiro, a global postal cross-border payments network, have joined forces to make the cost of sending money through mobile channels from Europe to Uganda four times cheaper. Use of the new app generates significant savings for migrant workers […]
Ghana: Public-private sector partnerships to drive digital and financial inclusion in rural areas
The UN’s International Fund for Agricultural Development, IFAD, announced partnerships on Tuesday to slash the cost of migrant remittances to Ghana with financial services providers Ecobank Ghana and Fidelity Bank and pan-African fintech MFS Africa, aiming to boost a vital source of income for a country grappling with the economic impact of the COVID-19 pandemic […]
Remittances resilient despite inflationary pressures – WorldRemit
Remittance inflows to Africa, including Kenya, are expected to remain stable into the fourth quarter of the year, with Kenyans abroad maintaining their support for families back at home.
Money transfer and investments: Diaspora subscribes to incentives
The sums of money shipped by African nationals living abroad to their countries of origin have already reached US$589 billion, an increase of 7.3 per cent compared to 2020, informs the latest report of the World Bank.
More than 47 billion DH transferred by MREs in the 1st half
Remittances from Moroccans residing abroad (MRE) reached more than 47.04 billion DH in the first half of 2022. This is an increase compared to the same period of 2021 when MRE transfers had reached 44.33 billion DH, according to the Office des Changes. These transfers thus showed an increase of 6.1% (+2.71 billion DH) compared to […]
Ecobank Nigeria unveils special scheme on loans and remittances
Ecobank Nigeria has unveiled a special scheme on Back2School loans and remittances for all its customers in a bid to aid and cater to back-to-school needs. The Head of Consumer Banking, Ecobank Nigeria, Korede Demola-Adeniyi in a statement noted that the loan offerings have been developed based on the bank’s understanding of the importance of education […]
Assessing remittances’ potential to build climate resilience in the Pacific
Despite the significance of remittance flows to the Pacific region, their potential as a source of climate finance is still largely unexplored. Personal remittances from Pacific migrants and diaspora make up a critical source of development finance – representing more than three times official development assistance and in many cases – two to three times […]
IAMTN Annual Summit
The cross-border payments industry is a fast-developing landscape, constantly provided with new possibilities arising from innovation. The International Association of Money Transfer Networks is inviting payment professionals from all over the world to discuss these exciting developments during the IAMTN Annual Summit. The Summit will be held on 11 and 12 October 2022 at Fenchurch […]
UN Secretary-General’s report on international migration and development
The present report was prepared pursuant to General Assembly resolution 75/226. The UN Secretary-General makes reference to IFAD’s work on remittances under Section B – Monitoring migration-related Sustainable Development Goal indicators, and makes a remittance-dedicated recommendation driven by continuous advocacy.
Uganda: Tayebwa to push for diaspora treasury bonds
The Deputy Speaker, Thomas Tayebwa has pledged to champion efforts to establish Diaspora bonds. This he says, will encourage Ugandans in the diaspora to invest in the country’s treasury bonds. Tayebwa made this pledge at the 34th Uganda North America Association Convention (UNAA) in San Francisco, California on Saturday, 03 September 2022. Read more, here.