Money transfer providers on the Africa continent will meet in Lagos, Nigeria during the last quarter of the year to look at their remittance business in the continent.
Under the 7th RemittanceAfrica Expo the gathering will take place across 23 and 24 of October at the Lagos Oriental hotel with the compelling headline theme ‘Unlocking Opportunities in Money Transfer and Payment systems in Africa’.
The conference will host leading thought leaders in the remittance ecosystem in Africa and beyond.
According to a recent report by the World Bank, Remittances to low- and middle-income countries rebounded to a record level in 2017 after two consecutive years of decline.
Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion globally and Nigeria ($22 billion) in Africa which is closely followed by Egypt ($20 billion).
While Remittance inflow is improving, there is significant leapfrogging of payment systems across the continent and there is a compelling need to better align remittances and payment systems in Africa to improve transaction efficiencies and further reduce cost.
With registration for speakers, sponsors and partners now going live via the event website, the Event Director at mobilemoneyafrica, the remittanceafrica brand owners, West Ekhator, said ‘The formal market for international and cross border money transfer to Africa is still young and faces typical emerging markets challenges when compared to more established markets, so we are at the fore front of delivering, highly engaging event platforms for supply -side decision makers in the remittance ecosystem to network and explore partners in the evolving remittance and payment ecosystem in Africa’.
The conference will aim to create a more competitive market place for players to foster and deepen their engagements across the ecosystem will hold in Africa’s largest remittance market, Nigeria in October, 2018.