Fintech Duo Collaborate to Tackle Remittance Costs in Africa
- Sub-Saharan Africa has the highest remittance costs globally, averaging 8.72% for sending $200 in 2022.
- 52% of adults in sub-Saharan Africa lack access to formal financial services.
- Traditional remittance solutions often come with high fees, delays, and limited accessibility.
The partnership between dLocal and Panda Remit represents a significant step towards improving the remittance landscape in Africa. By addressing high costs and accessibility issues, this collaboration could greatly enhance financial inclusion and support economic growth in the region. Further discussion could explore the potential impact on local economies and the scalability of such solutions in other emerging markets.
