Joint IFAD- World Bank Webinar
WHAT’S COOKING? Innovations in Rural Digital Financial Services and Remittances in Africa
24 Feb 2022
15:00 PM – 16:30 PM CET
Remittances have a leading role to play in promoting financial inclusion and livelihood development in rural communities. Many millions of households in Africa have benefited from remittances from family and friends, with almost 65 per cent increase in mobile payments and remittances in 2020 alone. Similarly, diaspora investments can also have a positive impact to foster investments and promote increased access to financial services in rural communities.
As focus and interest in remittances to Africa increase, the resilience of these financial flows during the pandemic has highlighted once more the need to intensify efforts to unleash their impact on development. While opportunities to scale remittance services are high, challenges remain, including improving infrastructure, expanding digitalization, better data collection, supportive policies, and public-private investments.