By fostering and developing a deeper understanding of the evolving digital remittance services, GMTS can provide insights that will guide regulators, policymakers, governments, businesses and investment decisions in the emerging digital remittance and payment space across Africa.
GMTS brings together 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. Featuring case studies on remittance services, payments and other innovations in the cross border remittance services space in Africa, GMTS 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.
The upward trend observed since 2016 is explained by strong economic conditions in the high-income economies where many sub-Saharan African migrants earn their income. Nigeria, the largest remittance recipient country in sub-Saharan Africa and the sixth largest among low and middle income countries (LMICs), is expected to receive more than $25 billion in official remittances by the end of 2018, an increase of more than $3 billion compared with the previous year. Looking at remittances as a proportion of GDP, the Gambia has the largest share, followed by the Comoros, Lesotho, Senegal, Liberia, Cabo Verde, Zimbabwe, Togo, Ghana and Nigeria.
Despite the significant remittance inflows, many Africans are still facing challenges in making secure, simple and safe payments within their national and international boundaries. The purpose of this conference is to promote innovative opportunities between the international cross border remittance services and local payment systems in Africa.
GMTS aims to develop and encourage innovations that will improve the financial services ecosystem in Africa so that it can benefit from globalization and deliver affordable remittance, banking and payment systems to the growing population.
PFID’s CEO Mr. Boon was one of the speakers.
This article has originally been published at gmts-iamtn.com
