G20 finance folk to focus on easier, cheaper cross-border payments in Africa
Sending remittances globally costs about 6.65% of the amount sent, and cutting prices by at least five percentage points could save $16bn
12 December 2024 - 13:06
Making cross-border remittances between African countries cheaper and ensuring cross-border payments systems work to support trade across the continent will be priorities for the G20 Finance Track during SA’s presidency, Reserve Bank governor Lesetja Kganyago said on Thursday.
The issue of payments was particularly important for the African continent, which had one of the most expensive remittance corridors globally, between Harare and Johannesburg. But there were other similar corridors that were expensive...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.