NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Remittances from African migrants and diaspora play a significant role in supporting local health, education, food security and productive investment in commerce, agriculture and building projects across Africa. Despite the positive contributions, many of the benefits of remittance transfers are lost in intermediation as a result of high charges by the providers from the out-bound countries which are above the global average. The barriers to cost-reduction will be one topic of discussion at the Remittance Africa conference that will be held in Africa’s largest remittance market, Nigeria in February, 2016. Conference focus areas will also cover key topics such as challenges and opportunities in the African remittance market, enhancing regulatory frameworks that affect remittances, improving on identification systems for cash out efficiencies, lowering cost and improving efficiency at the last mile. It will also address the role of postal network and non- bank financial institutions on expanding remittance services in Africa, the emerging role of digital remittances such as mobile money, online transfers and crypto-currencies in lowering remittance cost for Africans.