Driving Growth & Financial Inclusion: New Opportunities, New Markets & New Partnerships.
As international borders have reopened and global economies back to business as usual, host countries are reporting a massive influx of migrant workers and refugees which in effect have sharply driven remittances flow to Africa.
According to the World Bank’s Migration and Development Brief, remittances to the sub-Saharan region grew by 5.2% to $53 billion in 2022 from $49 billion in 2021. With the rise of digital remittances accelerated by the pandemic, new and emerging issues have taking center stage including the rapid adoption of alternative currencies, the emergence of Central Bank Digital Currency (CBDCs) by national governments, the crypto crisis which have raised consumers’ safety debates with calls for regulations and predictions of a global recession in sight.
The competition from new tech disruptors hence require MTOs to adopt new approaches in order to maintain market relevance and profitability. Therefore, what implications do these (r)evolutions have on the remittances industry? The Remittances Leaders Conference will bring together key stakeholders in Africa’s remittance market to:
- Discuss these new trends, critical issues and unfolding events currently shaping the future of the money transfer industry;
- Promote growth opportunities in new markets through strategic partnership development among industry players; and then
- Provide the platform for industry players to showcase their company’s products and services.