|Overview : |
One of the fundamental challenges that threaten remittances to Africa is the high transaction cost averaging 9.4 % for sending $200 in comparison to a global average of 5% for the same amount. Getting the price of remittances to Africa down to the average cost (in line with SDG indicator 10.c ) could save $1.8bn each year, which could potentially be redirected to the social, economic and environmental development of the diaspora’s home country’s efforts to contain the multi-dimensional impact of COVID-19.
The project developer is therefor required to the development of a full-fledged project that will improve the conditions for sending remittances to Sub-saharan Africa.
(detailed terms of references can be found on th attachments)