British HIgh Commissioner UK
Deputy Minister for Trade and Industry
MD, Domotale Africa
A collaborative effort between policymakers, private sector actors and development partners is needed to ensure that short-to-medium-term measures are put in place to safeguard remittance receivers during this pandemic period. We aim to dissect the dynamic shifts in remittance flows to low-income households as we explore the evolution landscape of remittances in a post-pandemic world and discuss how various policies are influencing the industry to impact diasporans and remittance receivers.
The International Day of Family Remittances (IDFR) recognizes the contribution of over 200 million migrant workers to improve the lives of their 800 million family members back home, and to create a future of hope for their children.
How do we scale remittances from an IMPACT perspective to cause a shift? What are the funding models currently available for scale? What is investor perspective on remittance for development?
Remittances are projected to continue to grow by 2.6 percent in 2022 in line with global macroeconomic forecasts. A resurgence of COVID-19 cases and reimposition of mobility restrictions poses the biggest downside risk to the outlook for global growth, employment and remittance flows to developing countries.
How have Insurance companies evolved to meet the needs of the market and of consumers and how do we protect the average consumer during this evolution especially post-pandemic?
Despite significant need and opportunity for remittance-linked insurance products, remittance-linked insurance products remain limited globally, and mostly unexplored in Ghana. This is due to four major challenges: partnership complexity, regulatory uncertainty, gray areas and barriers.
Remittances are particularly important on the continent and serve as a lifeline to many households. Yet insurance products that enable the sustained flow of remittances or the resilience of senders and receivers remain unexplored in Ghana.
The focus of this panel is to leverage big data out of remittance to determine the next best offering or harness additional service offering. We now focus on big data activities and discussion.
Over the years, remittances have been a cheap supply of foreign exchange into emerging markets as well as unsolicited FDI's. Post-pandemic, it will be interesting to discuss how global partners and policy makers can leverage digital rails to open up the Caribbean as the next Frontier market to receive remittances from the Caribbean diaspora directly.
The panel will seek to discuss current inflows into the Caribbean and possible approaches to open up the Caribbean to receive more unsolicited FDI's into the Caribbean as has been the case in Africa.
Dr. Susan Alfred, Trinidad & Tobago - Ghana Caribbean Chamber
H. E. Fidelia Graand Galon Suriname - BBD High Commission
Neville Buchanan, Jamaica - Ghana Caribbean Association
Juliette Babb-Riley - Chargé d'affaires Ghana
(SDG/ Intelligent Capital)
(Ministry of Finance)
(CEO - Sendittoo)
MD, Domotale Africa
(Founder of Cocoa360)
(PR Consultant, Barbados)
(Suriname Ambassador at Ministry of Foreign Affairs)
Grenada (Zeepay Caribbean Launcher)
Barbados (Chargé d'affaires Ghana)
Trinidad & Tobago (President of the Ghana Caribbean Chamber of Commerce)
Jamaica (President of the Ghana Caribbean Association)