Uganda Bankers Association (UBA) is optimistic that rates will continue declining because they are responding to monetary policy directions of the Central Bank.
The study also shows that almost 80 per cent of the potential market is in rural areas and as such costs will play a great role in determining the success of this model.
Remittances to developing countries fell for a second consecutive year in 2016, a trend not seen in three decades, says the latest edition of the Migration and Development Brief, released today during the World Bank’s Spring Meetings.
The World Bank has cautioned Nigeria and other African nations against excessive debts, urging a balance between massive spending for development on the one hand and moderation in borrowing on the other.