African remittances in 2012 were 650 per cent higher than the cash inflow of the International Monetary Fund (IMF) and the World Bank combined, according to a study. Infinite Potentials Consulting (IPC) has released a study documenting remittance transfers in Sub-Saharan Africa (SSA), which totalled over US$31 billion in 2012. “[This] is 650 per cent
A new publication, Financial Inclusion in Africa, by the Complex of the Chief Economist of the African Development Bank (AfDB) finds that for sustained and inclusive development to thrive, a great deal of innovation is needed to ensure that appropriate financial services and instruments are put in place for the benefit of the poor and
Earthport, the cross-border payments service provider has announced that IFC, a member of the World Bank Group, has agreed to invest $10 million in the company. The funding will be used to expand Earthport’s presence and payments service infrastructure, particularly in developing countries. Through this investment, Earthport also becomes part of IFC’s extensive network which
