IFAD and MFS AFRICA: A ground-breaking partnership to unlock remittances across sub-Saharan Africa

News published on Apr 17, 2023 @ 2:28 pm

MFS Africa’s raison-d’être has always been Making Borders Matter Less. We believe that borders shouldn’t hinder individuals and businesses in exchanging value and culture. Our organisation’s commitment to enhancing remittances recently resulted in securing a $1.3 million European Union-funded grant from the United Nation’s International Fund for Agricultural Development (IFAD). The grant is a result of a fruitful partnership with IFAD’s Financing Facility for Remittances (FFR) team and is the largest award allocated by FFR to a private organisation.

The grant will enable MFS Africa and its partners to co-finance a multi-year project that aims to enable and scale digital international remittances for thirteen international remittance corridors1. Eleven of these cover EU-Africa2 remittance routes with huge growth potential. The remaining two are intra-African3 corridors with promising outlooks.

Focus Region