The most expensive countries in the world to send remittances are largely African. As of 2023, the global average for sending $200 is 6.3%, but in Africa, it is as high as 27%.
This is why Nshuti Mbabazi, Managing Director of the Better Than Cash Alliance—a coalition of 80 governments and companies promoting digital payments—has called for mobile network interoperability across Africa to make cross-border transactions cheaper and faster.
Speaking at the Inclusive FinTech Forum in Kigali, Rwanda on Monday, Mbabazi emphasised that it is unfair for Africans to pay high transaction fees when sending money within the continent.