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Global Forum on
Remittances, Investment
and Development

United Nations – Nairobi, Kenya

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Welcome to the 2023 GFRID Summit

Promoted by the United Nations as a platform to engage all sectors, GFRID 2023 will explore opportunities and challenges in the post-pandemic landscape, with a major focus on main remittance corridors and diaspora investment innovations in Africa.

As for every summit, the GFRID Summit 2023 will facilitate networking among sectors, as well as the exchange of best practices and the creation of synergies towards joint, innovative initiatives aimed at unleashing the power of remittances and diaspora investment towards sustainable development.

Latest news about Summit

Play Video
May 31, 2023
Raphael Grojnowski, Co-Founder and Director of Mama Money, talks about the importance of the GFRID...
|Digitalization+ Remittance families and development
Play Video
May 31, 2023
In this video, Elvina Quaison from ICMPD talks about the importance of the GFRID Summit...
|Diaspora engagement+ Remittance families and development
Play Video
May 31, 2023
Jonas Tesfu, Founding Trustee, Pangea Trust talks about the importance of the GFRID Summit and...
|Digitalization+ Market insights+ Remittance families and development

Main objectives

Around 500 participants are expected to attend, both from the region and globally.
With its unique and inclusive format, the GFRID Summit 2023 aims at:

Creating a process for continuous engagement among key African and global public and private sector representatives, as well as the civil society.

Promoting both African and global best practices to reduce the cost of remittances, while fostering financial inclusion through market competition, innovative business models and the use of disruptive technologies.

Developing multi-stakeholder strategies and partnerships to scale up successful financial vehicles involving migrant/diaspora contributions, through investment and entrepreneurship.

Contributing to global processes on remittances, investment and development, such as the SDGs achievement and implementation of the Global Compact on Migration.

Sectors and

The African context

Remittances and diaspora investment represent a significant financial inflow for African markets, and a vital source of income for millions of individuals and families. Reliable data is still unavailable for several countries, where informality is still predominant. However, it is estimated that remittances to several African countries are equal to a high share of their GDP. The diaspora members have US$500 billion in accumulated savings. To allow the diaspora to invest safely, conditions need to be put in place to enable safe and impactful investments.

Source: RPW, Q3 2022 for sub-Saharan Africa, World Bank

Private sector

  • Commercial banks
  • FinTech companies
  • Microfinance institutions
  • Mobile network operators
  • Money transfer operators
  • Private foundations
  • Private postal financial operators
  • Rural banks
  • Insurance providers

Public sector anddevelopment organizations

  • Central banks and fi­nancial regulators
  • Ministries of agriculture
  • Ministries of finance
  • Ministries of foreign affairs
  • Ministries of industry
  • Ministries of migration and labour
  • Permanent missions to the United Nations
  • Chambers of commerce
  • Postal networks
  • Development agencies and organizations
  • International financial institutions

Civil society

  • Academic institutions
  • Community groups
  • Cooperatives
  • Think tanks
  • Diaspora organizations
  • Non-governmental organizations

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