Africa currently receives just under $100 billion in annual remittances, growing at a robust 10% long-term CAGR.
This represents a massive and expanding revenue pool for fintechs and financial institutions active on the continent.
Africa’s remittance landscape continues to evolve, with recent World Bank estimates revealing Egypt overtaking Nigeria to become Africa’s largest remittance recipient and Ghana experiencing a remarkable surge in remittance inflows.
According to the latest estimates:
- Egypt again became Africa’s largest remittance recipient, attracting $22.7 billion in inflows and recording robust 16% year-over-year growth.
The country, which boasts Africa’s largest diaspora, receives significant inflows from…
