Lagos is set to host the largest gathering of money transfer providers on the Africa continent at the 7th RemittanceAfrica Expo billed for 23rd to 24th October.
Coming with the theme: ‘Unlocking Opportunities in Money Transfer and Payment systems in Africa,’ the conference will host leading thought leaders in the remittance ecosystem in Africa and beyond.
Business Hilights recalls that a recent report by the World Bank, noted that Remittances to low- and middle-income countries rebounded to a record level in 2017 after two consecutive years of decline.
Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion globally and Nigeria ($22 billion) in Africa which is closely followed by Egypt ($20 billion). While Remittance inflow is improving, there is significant leapfrogging of payment systems across the continent and there is a compelling need to better align remittances and payment systems in Africa to improve transaction efficiencies and further reduce cost.
The RemittanceAfrica brand owners, West Ekhator, said “The formal market for international and cross border money transfer to Africa is still young and faces typical emerging markets challenges when compared to more established markets, so we are at the fore front of delivering, highly engaging event platforms for supply -side decision makers in the remittance ecosystem to network and explore partners in the evolving remittance and payment ecosystem in Africa”.
The organizers disclosed that the conference will aim to create a more competitive market place for players to foster and deepen their engagements across the ecosystem.
