Remittances News

Kenya: Diaspora remittances reach record


 | Source: Financial Afrik

Remittances from the Kenyan diaspora reached a record $ 641.5 million in the first three months of the year, reflecting in part the impact of growth in investment products targeting the diaspora.

Sub-Saharan Africa, the region with the highest transfer costs


 | Source: Financial Afrik

The World Bank estimates that officially registered remittances to low- and middle-income countries reached $ 466 billion in 2017, up 8.5% from $ 429 billion in 2016.

2017 Global Findex Report: Africa at a Glance


Measuring Financial Inclusion and the Fintech Revolution

Morocco: Banque Centrale Populaire Group Launches BPAY Mobile Payment Solution


 | Source: Financial Afrik

Engaged in the framework of the national strategy of financial inclusion, the group Banque Centrale Populaire launches, this Monday, April 16th, its solution of mobile payment “BPAY”.

PayPal, Safaricom and TransferTo Announce Collaboration in Kenya


 | Source: Financial Afrik

New service enables global e-commerce on the African continent and allows M-PESA users in Kenya to shop with PayPal merchants worldwide and allow Kenyan online businesses and freelancers to sell securely and transfer funds between their PayPal and M-PESA accounts.

Sudan: Central Bank Directs Banks to Hand Over Expatriate Remittances in the Same Currencies Transferred


 | Source: Sudan News Agency; All Africa

The Central Bank of Sudan (CBOS) has instructed all banks to hand over expatriate remittances in the same currencies as they have been transferred to facilitate the flow of Sudanese remittances abroad and provide them with distinctive banking services.

Nigeria: W'Bank Predicts $22bn Foreign Remittances for Nigeria in 2017


 | Source: This Day; All Africa

The World Bank has predicted that Nigeria will record foreign remittances inflow of $22 billion in 2017, higher than the $19 billion recorded by the country in 2016.

East Africa: Sending Money to Tz From UK Most Costly in E. Africa - Report


 | Source: The Citizen; All Africa

Sending money to Tanzania is the most expensive in the Eastern and Southern Africa, a London based consultancy organisation, Developing Markets Associates (DMA) June global report shows.

Africa: Post Offices Are Key to Scaling Up Remittances and Financial Inclusion in Uganda


 | Source: IFAD; All Africa

The International Fund for Agricultural Development (IFAD), Postbank of Uganda (PBU) and Posta Uganda signed a grant agreement today aimed at expanding the role of postal networks in the delivery of remittances and access to financial inclusion across the country.

South Africa: High Bank Charges Force Immigrants to Send Money Home 'Hand-to-Hand'


 | Source: GroundUp: All Africa

A new survey by Cape Town-based refugee rights advocacy group The Scalabrini Centre has found that the high cost of sending money has kept migrants from using formal remittance systems.

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