Digitalization of remittances: an opportunity for financial and digital inclusion - a specific country analysis on The Gambia

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Digitalization of remittances: an opportunity for financial and digital inclusion - a specific country analysis on The Gambia

Rome/Banjul, 14 June 2022 – On the occasion of the International Day of Family Remittances (16 June), the UN’s International Fund for Agricultural Development (IFAD) will launch its new MobileRemit Africa report, which includes a specific country analysis about the Gambia. Details for the event can be found below.

Formal remittance inflows to the Gambia have steadily grown, recording an almost three-fold growth over the last four years: from US$278 billion in 2018 to US$773 billion in 2021. Remittances represented 63% of the country's GDP in 2021, making the Gambia one of the countries with the highest dependency on remittances in the world, while Gambian people continue to bear some of the highest remittance prices in Africa.

IFAD’s report highlights the opportunities to harness the potential of mobile remittances in the country as mobile money services have recently been relaunched. The country specific analysis provides policy recommendations on how the Gambia can take advantage of mobile-enabled international remittances, and link up the financial goals of remittance families with the commercial strategies of financial service providers.

What:

In presence observance event for the International Day of Family Remittances: Recovery and resilience through digital and financial inclusion. Organized by IFAD – UN specialized agency and international financial institution.

Who:

  • Sana Jatta, Regional Director, Ad-interim, West and Central Africa Division, International Fund for Agricultural Development (IFAD) (tbc)
  • Buah Saidy, Governor, Central Bank of The Gambia
  • H.E. Corrado Pampaloni, Head of the European Union Delegation to The Gambia (tbc)
  • Stephen Matete, Programme Coordinator, Migration Management, International Organization for Migration (IOM) – UN Migration
  • Ousman Saidykhan, Foreign Exchange Officer, Central Bank of The Gambia
  • Mohamad Touray, Head of Remittance Department, APS International
  • Frehiwot Tefera, Labour Migration and Human Development Officer, IOM – UN Migration in The Gambia
  • Frédéric Ponsot, Senior Technical Specialist on Remittances, Diaspora and Inclusive Finance, FFR, IFAD

When:

Thursday, 16 June 2022, 9:30-13:00

Where:

The Sir Dawda Kairaba Jawara International Conference Center, Banjul

Registration:

https://familyremittances.org/idfr-2022/observance-event-in-the-gambia/

Media contact

Image of Alberto Trillo Barca

Alberto Trillo Barca

Communication Officer, Global Media

a.trillobarca@ifad.org