World Bank projects 7.1% rise in remittances to Sub-Saharan Africa
Increase in adoption of digital payments infrastructure as markets look to recover from economic hardship exacerbated by COVID-19 and the Ukraine-Russia conflict.
Michael Malakata
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Research shows Sub-Saharan Africa most expensive for remittances
World Bank and KNOMAD release report reflecting drop in remittance rate in 2020, but expectation of growth in 2021.
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Surge in remittances as Africa’s battle with COVID-19 continues
There are now more digital channels offering remittance delivery straight into bank and mobile wallet accounts.
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COVID-19 hits Africa remittances, World Bank urges digital platform use
The World Bank projects a 20% decline in global remittances, urging service providers and authorities to introduce measures to ease use of mobile money platforms.