In 2019, PwC highlighted the size of the remittance market, with a massive sum of $25.5 million in diaspora remittances, and even bigger sums likely to be sent through unofficial means.
Suggested Read: Diaspora remittances can boost investment in small and early-stage businesses – PwC
As a result, it appears a number of financial services providers have been making moves to position themselves to tap into the budding remittance market.
In 2019, the Nigerian payment company, Paga, partnered with global remittance platform, WorldRemit. This year, Airtel expanded its mobile money platform by partnering with financial giants, Western Union, and Flutterwave with WorldPay.
In another development, pan-African banking giants, Ecobank, with a presence in more than 33 African countries, has announced a partnership…