The battle for a share of Zimbabwe’s billion dollar remittance industry ...Middle East

Quartz - Economy
The battle for a share of Zimbabwe’s billion dollar remittance industry
source : Quartz ( Middle East ) () 51
The scramble is on for Zimbabwe’s billion dollar remittance industry with local and international fintech institutions vying for a share of the pie against legacy banks and traditional money transfer agencies.Diaspora remittances to Zimbabwe surged from $1 billion in 2020 to $1.4 billion last year. This mirrors the continent-wide significance of contributions by diaspora Africans to national development and sustaining family and friends back home. World Bank data shows that remittance inflows to sub-Saharan Africa grew in 2021 by 6.2% to $45 billion against a projected 5.5% this year due to economic recovery in US and Europe.https://datawrapper.dwcdn.net/NUcb6/1/Read the rest of this story o

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