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FSD Africa
Articles by FSD Africa:
June 15th, 2017
Reducing Costs and Scaling Up UK to Africa Remittances Through Technology
FSD Africa
Sending money to Africa is more expensive than anywhere else in the world, according to new research due to be published at this week’s Global Remittance Conference in New York. The report argues that existing technology – like regional automated clearing houses, remittance payment processing hubs and aggregators – could all make sending money from the UK to Africa much, much cheaper.
M-Shwari (meaning ‘calm’ in Kiswahili) is a combined savings and loans product launched through a collaboration between the Commercial Bank of Africa (CBA) and Safaricom.
23% of sub-Saharan Africans are living in “cusper” households that get by on $2-$5 per person per day. This map shows their total percentage per country (relative to the overall country population) and size in millions
