This study has been developed by Cenfri under the Remittance Access Initiative (RAI), co-financed by the Financing Facility for Remittances (FFR) of the International Fund for Agriculture Development (IFAD) and the European Union (EU) as part of the Platform for Remittances, Investments and Migrants’ Entrepreneurship in Africa (PRIME Africa) initiative.
The RAI initiative was born out of an IFAD-funded seven-country study (covering Ghana, Kenya, Morocco, Senegal, South Africa, The Gambia and Uganda) undertaken in 2020. A key finding of these diagnostics was that know-your-customer (KYC) and customer due diligence (CDD) procedures are key impediments in enabling remittance access by low-income and rural households. In order to address this access challenge, the RAI was conceived and focuses on working with remittance service providers (RSPs) and regulators in the seven countries to innovate KYC and CDD processes to enable remittance access to low-income and rural households.
