Twitter chat: The role of mobile money in maximising remittances
- Leon Isaacs @leon_dma – CEO, Developing Markets Associates
- Adeline Pelletier @adelinpelletier – Lecturer, Strategy at the Institute of Management Studies, Goldsmiths – University of London
- Alix Murphy @AlixinLondon – Director of Mobile Partnerships, WorldRemit
- Bhavin Vaghela @Bhavin_Vaghela @xendpay – Growth and Product Manager, XendPay
- Jennifer Dew @IOM_UK – Project Coordinator, Labour Mobility and Human Development (LHD), IOM UK
- Sarah Logan @sarahalogan – Policy Economist, IGC
- Edward George @DrTeddGeorge @ecobankresearch – Head of Research at pan-African bank, Ecobank
- Nika Naghavi @NaghaviNika – Senior Insights Manager, GSMA
- Stephen Gelb @sgelb1 – Principal Research Fellow – Team Leader, Overseas Development Institute (ODI)
The economic contribution of international migrants plays a significant role in international growth, and remittances provide the most tangible link between migration and development. Although migrants represent slightly over 3% of the global population, they contributed 9% of global GDP in 2015 (UN, 2018).
Mobile technology is one of the most transformative forces shaping how these migrants can send and receive money. Rapid digitisation is helping to reduce the costs of sending money internationally, helping achieve many of the UN Sustainable Development Goals such as poverty reduction, gender equality, and climate resilience. However, while significant progress has been made on the digital front, many of the potential benefits of remittances are lost due to transaction fees ranging from 1% to 20%.
Collaboration between governments, regulatory bodies, the private sector, and the international community is needed to effectively address the obstacles hindering the potential of remittances in contributing to social and economic development.
Ahead of the International Day of Family Remittances, IGC is hosting a Twitter chat on the trends and opportunities for digital technologies and mobile money to disrupt the remittances market. Join researchers, policymakers, and mobile money operators as they debate the biggest challenges associated with facilitating international remittances and their contribution to economic growth.
You can register here. You can also join the conversation by using #familyremittances.
When: 14:00 – 15:00 BST Friday, 15 June