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Reducing the cost of remittances to and within Africa

Reducing the cost of remittances to and within Africa

March 27, 2018 •

On 21 March 2018, Barry Cooper presented to DFID’s financial inclusion team in London on Cenfri’s remittances work with FSD Africa under their Risk, Remittance and Integrity (RRI) Programme.

The presentation highlighted why donors, governments and providers are struggling to reduce the cost of cross-border remittance market to and within sub-Saharan Africa. It introduced new approaches that are necessary to reduce the price of remittances to achieve the 3–5% of the remittance value target set by the G20 and Sustainable Development Goals. It cautioned against capping the cost at 5% too early, as it will likely result in higher exclusion for remittance recipients.

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March 21, 2018 -
London, UK