RemitSCOPE Africa preliminary release #13

This RemitSCOPE Africa report covers migration, remittance flows, pricing, and financial inclusion data for 54 countries, using primary and secondary sources such as the World Bank and UNDESA, including expert interviews and Q1-Q2 2023 research.

Diagnostics Kenya 2023 Preliminary Release

IFAD commissioned diagnostic through the PRIME Africa initiative, presented at Kenya's inaugural National Remittance Stakeholder Network in March 2021. Coordinated by Pedro De Vasconcelos (IFAD) and Leon Isaacs (DMAG), the diagnostic underwent significant updates in March-May 2023 to capture evolving market conditions and deliver current data insights.

2023 GFRID Summit Outcomes

The 2023 GFRID Summit, hosted by IFAD in partnership with UN OSAA and the World Bank, gathered over 650 stakeholders in Nairobi to discuss remittances, diaspora investment, and development, focusing on post-pandemic opportunities and challenges, and contributing to the Agenda 2030 SDGs.

RemitSCOPE Africa Preliminary Release

This report explores remittances in Africa, including drivers, trends, and impact. In 2022, Africa received almost $100.1 billion in remittances, vital for rural areas and key SDG goals. Despite global challenges, remittances grew at a 12% CAGR from 2019 to 2022. However, Africa's remittance costs remain high at 8.9%, urging efforts to lower costs under SDG 10.c.