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Platform for Remittances, Investments and Migrants’ Entrepreneurship in Africa (PRIME Africa)

Improving the management of remittances and their use for development impact in Africa

Remittances sent by migrant workers to and within Africa were over US$95 billion in 2021, benefiting over 200 million family members of African migrant workers, the majority of whom live in rural areas (55 per cent of the population).

In Africa, one out of five people send or receive international remittances, without considering domestic flows. Most remittances received in Africa cover daily needs, with a significant amount (25 per cent) available for savings or investment.

Bringing these funds into the formal financial system can dramatically increase their impact. When remittances are deposited into financial institutions, they can benefit both the individual and the community. 

With better financial education and a broader range of financial services to choose from, remittance recipients are empowered to make financial choices that can advance them towards financial resilience. The ability to expand financial services, however, depends on institutional capacity, willingness to offer services to low-income people, and on regulatory frameworks that enables them to do so.

What is IFAD doing?

The PRIME Africa programme, co-financed by the European Union, is addressing these development opportunities through innovations, partnerships, and scalable products that promote cheaper, faster, and safer remittance transfers.

By maximizing the impact of remittances for millions of families, PRIME Africa is fostering local economic opportunities in seven Africa countries, namely:

Related news

Related news

Call for Proposals: Remittance Innovation Champions 2022 South Africa

September 2022 - NEWS
The Financing Facility for Remittances (FFR) of IFAD is pleased to announce the Remittance Innovation Champions 2022 – South Africa (RIC22-SA) Call for Proposals.

Mobile remittances to lead digital revolution in marginal rural areas in five African countries thanks to IFAD grant funded by the EU

September 2022 - NEWS
IFAD announced today its first grant to a digital payments company, MFS Africa, to promote the use of mobile remittances in marginal rural areas in five African countries: Ghana, Kenya, Senegal, The Gambia and Uganda.

Third round of National Call for Proposals (Morocco): Supporting remittances in times of crisis in Africa

July 2021 - NEWS
The Financing Facility for Remittances (FFR) of IFAD is pleased to announce the third round of National Calls for Proposals (Morocco) 2021: supporting remittances in times of crisis in Africa.

Second round of National Calls for Proposals (Kenya and Uganda): Supporting remittances in times of crisis in Africa

April 2021 - NEWS
The Financing Facility for Remittances of IFAD is pleased to announce the second round of National Calls for Proposals (Kenya, Uganda) 2021: supporting remittances in times of crisis in Africa.

Related publications

Related publications

RemitSCOPE: South Africa Country Diagnostic

September 2022
The South Africa country diagnostic has been prepared in accordance with the PRIME Africa goals, to provide more in-depth analysis and additional evidence for the areas of action identified in the country road map.

RemitSCOPE: The Gambia Country Diagnostic

September 2022
The Gambia country diagnostic has been prepared in accordance with the PRIME Africa goals, to provide more in-depth analysis and additional evidence for the areas of action identified in the country road map.

RemitSCOPE: Ghana Country Diagnostic

September 2022
This Ghana country diagnostic was prepared in accordance with the PRIME Africa goals.

MobileRemit Africa

July 2022
MobileRemit Africa is a key instrument of the Platform for Remittances, Investments and Migrants’ Entrepreneurship in Africa (PRIME Africa) initiative, co-financed by the European Union and initially implemented in seven African countries along with their main remittance corridors.

PRIME Africa

June 2022
Remittances sent by migrant workers to and within Africa were over US$85 billion in 2018, of which US$25 billion were sent by migrants residing in Europe.
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