International Day of Family Remittances

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.

• Distribution
• Frontier Markets
• Channels
• Pricing

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.