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Remittances in Africa

Remittances in Africa

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In recent years, much emphasis has been placed on the magnitude, growth and leveraging of remittances for development in the African continent. Remittances in Africa is a review that catalogues the main studies, policies and technical assistance programs on remittances in Africa that have been carried out by the World Bank, other multilateral and bilateral development agencies, and governments. These activities have lead up to and influenced, directly or indirectly, the initiative of creating an African Institute for Remittances (AIR). As one of five Africa’s Legacy projects, AIR is to be established with the objective of harnessing migrant remittances for social and economic development in Africa. The contents of Remittances in Africa should prove useful in undertaking further research in support of this goal.
In recent years, much emphasis has been placed on the magnitude, growth and leveraging of remittances for development in the African continent. Remittances in Africa is a review that catalogues the main studies, policies and technical assistance programs on remittances in Africa that have been carried out by the World Bank, other multilateral and bilateral development agencies, and governments. These activities have lead up to and influenced, directly or indirectly, the initiative of creating an African Institute for Remittances (AIR). As one of five Africa’s Legacy projects, AIR is to be established with the objective of harnessing migrant remittances for social and economic development in Africa. The contents of Remittances in Africa should prove useful in undertaking further research in support of this goal.

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Publish date: Dec 19, 2013
Added to Scribd: Dec 26, 2013
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12/19/2015

Tanzania: The Financial Institutions Development Project. This project’s component on financial education
addressed low-level awareness about available financial products. The project included benefits to promote
increased household access to financial and payment services and to facilitate efficient financial intermediation.

East African Community Regional Financial Integration Study. The World Bank (2007) study on the East Africa
community identified the use of retail payment systems as an important tool in leveraging greater connectivity at the
wholesale level.19

Uganda. The Making Finance Work for Uganda study focused on increasing the breadth and depth of the Ugandan
financial sector.20

The report included recommendations focused on improving access by strengthening payment and
remittance systems—building up on earlier work on financial sector strengthening and ensuring increased access to
formal financial services by rural savers and micro-entrepreneurs. In addition, other studies on Uganda have
explored the role of cost-effective technology in increasing outreach and reducing the trade-off between outreach
and cost.21

This includes the use of MFIs, post offices, and other shared platforms through which migrants receiving
remittances can access financial and payment services from different MTOs.

3.1.2 Southern Africa
The Mobile Banking in Southern Africa Study
. The objective of this regional study was to positively influence the
expansion of access to finance through the rapid but safe takeoff of domestic and cross-border branchless banking
(Maimbo and others 2010). The key focus of the study is on cross-border payment services in Angola, Malawi,
Mozambique, South Africa, and Zambia. The findings from the study will be discussed at a policy discussion
workshop bringing together a select group of policy champions from each of the focus countries to discuss
appropriate incentives that encourage innovating bank and non-bank led domestic and international mobile banking
solutions.

3.1.3 Global
Knowledge Partnership on Migration and Development (KNOMAD)
.The Global Knowledge Partnership on
Migration and Development is a four-year initiative launched in May. The objective is to highlight the benefits and

19 For additional information on East Africa, see www.africaremittances.org.
20 For more on Making Finance Work in Africa, see World Bank website, http://go.worldbank.org/WVFPF5CYJ0.
21 For more studies on Uganda, search World Bank website under Access Finance newsletters and Financial and
Private Sector Development (FPSD Uganda).

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challenges of migration for sending and receiving communities, as well as for migrants. The Knowledge Partnership
will provide an open, multidisciplinary platform to debate, discuss and exchange knowledge on migration issues,
generate a menu of policy choices based on evidence and peer-review, and will assist sending and receiving
countries in implementing a few pilot policy operations and capacity building efforts to evaluate and mainstream
some policy choices.

The Knowledge Partnership will be a resource for policy makers, the member agencies of the Global Migration
Group (GMG), regional development banks, donors, different organizations involved in mainstreaming migration
and remittances into national development plans, country strategies and projects/programs on migration and
remittances, and will build on existing partnerships involving the World Bank, IOM, other members of the Global
Migration Group, Global Forum on Migration and Development, AU, EU, World Economic Forum, Africa
Economic Research Consortium, ADB, AfDB, IDB, the G8 and the G20, universities, research institutes and think-
tanks on migration and remittances.

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