REMITTANCEAFRICA 2018 CONFERENCE
UNLOCKING OPPORTUNITIES IN MONEY TRANSFER AND PAYMENT SYSTEMS IN AFRICA
Africa despite one of the leading remittance recipient continents in the world still lags behind with innovative payment systems within national boundaries. The purpose of the RemittanceAfrica 2018 event is to partner with institutions, firms and innovators that are influencing change in the remittance and payment ecosystem in Africa to promote new innovations within the ecoystems.
Africa needs an improved financial services ecosystem to benefit from globalization and deliver affordable Remittance, banking and payment systems to the growing population.
The formal market for international cross border money transfer to Africa is still young and faces typical emerging markets challenges when compared to more established markets.
According to a recent World Bank report - Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).
Remittances are expected to continue to increase in 2018, by 4.1 percent to reach $485 billion. Global remittances are expected to grow 4.6 percent to $642 billion in 2018. “Remittances to Sub-Saharan Africa accelerated 11.4 percent to $38 billion in 2017, supported by improving economic growth in advanced economies and higher oil prices benefiting regional economies.
Remittances from African migrants and diaspora pay a significant role in supporting local health care, education, investments in commerce, agriculture and building projects across Africa. Despite the significant remittance inflows, many Africans are still facing challenges of making secure, simple and safe payments within their national and international boundaries. The purpose of this conference is to unlock the opportunities between the international cross border remittance services and local payment systems in Africa.
CONFERENCE FOCUS AREAS
- Impact of remittance on savings, financial inclusion and payment systems in Africa
- Assessment and impacts of digital and innovative systems in cross border money transfers and payment systems
- Enhancement of competitive market conditions to foster innovation, inclusive growth and competition in the remittance ecosystem in Africa
- The African Remittance and payment oppourtunnities forum
- The fintech revolution in bridging remittances, banking and payment ecosystems
- Balancing regulation and innovation in the remittance and payment space in Africa.
- Unlocking the opportunities in the Remittance, banking and payment ecosystem
- How cryptocurrency could impact remittance and payment industry in Africa
- Enhancing innovation in the remittances value chain and improving services to the last mile: The role of the mobile network operators, enablers, banks, mobilemoney operators and agency network providers.
The conference will aim to create a continental dialogue on deepening the remittance and payment ecosystems in Africa.
Initiate and explore collaborative efforts among stakeholders to deepen partnerships, open new markets access, share agency networks to broaden access to remittance services and payment systems.
Finally, it will help foster and develop deeper understanding of the evolving digital remittance services and provide insights that will guide regulators, policy makers, governments, businesses and investment decisions in the emerging digital remittance and payment space across Africa.
REMITTANCE AFRICA CONFERENCE OBJECTIVES
The Remittance Africa conference is a gathering of top executives from the international money transfer operators, financial services providers, mobile network operators, National regulators, card and payment switch providers, Fintechs, application providers etc within the remittance, banking and payment ecosystems in Africa and beyond.
It will showcase case studies on remittances services, payments and other innovations in the cross border remittance services space in Africa.
It will be the largest gathering of stakeholders in the remittance ecosystem serving the African remittance industry. Hear first-hand from leading executives and discover how policies, trends and emerging technologies are impacting the African remittance and payment industry.