{"id":88763,"date":"2024-08-01T09:20:28","date_gmt":"2024-08-01T09:20:28","guid":{"rendered":"https:\/\/outliereditor.co.za\/?p=88763"},"modified":"2025-11-17T17:39:29","modified_gmt":"2025-11-17T17:39:29","slug":"international-remittances-surge-by-262-in-four-years-driven-by-west-africa","status":"publish","type":"post","link":"https:\/\/outliereditor.co.za\/index.php\/2024\/08\/01\/international-remittances-surge-by-262-in-four-years-driven-by-west-africa\/","title":{"rendered":"International remittances surge by 262% in four years, driven by West Africa"},"content":{"rendered":"\n

About $29-billion was transferred across country borders using mobile money services in 2023, $7-billion more than was sent in 2022, according to the GSM Association\u2019s latest state of the industry report on mobile money<\/a>.<\/p>\n\n\n\n

Mobile money allows people who do not have a bank account to transfer money securing using a basic mobile phone. International remittances are commonly used by migrant workers to send money home to their families.<\/p>\n\n\n\n

The amount of money being transferred has surged 262% in four years, from $8-billion in 2019 to $29-billion in 2023. The growth is being driven by West Africa, where remittances are a crucial source of income for many households and contribute significantly to local economies, according to the World Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[709,5,1387],"tags":[806,433,1004,1023,567,358],"newsletter-post":[],"site":[],"class_list":["post-88763","post","type-post","status-publish","format-standard","hentry","category-business","category-economy","category-the-outlier","tag-gsma","tag-migrants","tag-mobile-money","tag-remittances","tag-west-africa","tag-world-bank"],"acf":{"big_number":"","big_number_caption":"","big_number_link":"","big_number_background":"","big_number_text_colour":"#000000","big_number_icon":false,"big_number_wide":"yes","featured_chart":{"ID":88762,"id":88762,"title":"International remittances","filename":"International-remittances.png","filesize":24093,"url":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances.png","link":"https:\/\/outliereditor.co.za\/index.php\/2024\/08\/01\/international-remittances-surge-by-262-in-four-years-driven-by-west-africa\/international-remittances\/","alt":"","author":"7","description":"","caption":"About $29-billion was transferred across country borders in 2023 using mobile money services, $7-billion more than was sent in 2022, according to the GSM Association\u2019s latest state of the industry report on mobile money. \nMobile money allows people who do not have a bank account to send money safely using a basic mobile phone. International remittances are commonly used by migrant workers to send money home to their families. \nThe amount of money being transferred has surged 262% in four years, from $8-billion in 2019 to $29-billion in 2023. The growth in international remittances is being driven by West Africa, the GSMA said.\nThere are about 835-million mobile money account holders in Sub-Saharan Africa, according to the GSMA. Last year, 62-billion transactions were carried out in the region using mobile money. This is two-thirds of the world\u2019s total mobile money transactions.","name":"international-remittances","status":"inherit","uploaded_to":88763,"date":"2024-08-01 08:38:41","modified":"2024-08-01 09:20:30","menu_order":0,"mime_type":"image\/png","type":"image","subtype":"png","icon":"https:\/\/outliereditor.co.za\/wp-includes\/images\/media\/default.png","width":1080,"height":1080,"sizes":{"thumbnail":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances-150x150.png","thumbnail-width":150,"thumbnail-height":150,"medium":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances-300x300.png","medium-width":300,"medium-height":300,"medium_large":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances-768x768.png","medium_large-width":768,"medium_large-height":768,"large":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances-1024x1024.png","large-width":1024,"large-height":1024,"1536x1536":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances.png","1536x1536-width":1080,"1536x1536-height":1080,"2048x2048":"https:\/\/outliereditor.co.za\/wp-content\/uploads\/2024\/08\/International-remittances.png","2048x2048-width":1080,"2048x2048-height":1080}},"flourish_chart_id":"","flourish_sub_title":"","flourish_chart_width":"medium","is_newsletter_post":"No","post_style":"owic","show_on_front":"Yes","link_through":"Yes","chart_url":"","background_colour":"#0089AA","text_colour":"#FFFFFF"},"_links":{"self":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/88763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/comments?post=88763"}],"version-history":[{"count":7,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/88763\/revisions"}],"predecessor-version":[{"id":88771,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/posts\/88763\/revisions\/88771"}],"wp:attachment":[{"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/media?parent=88763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/categories?post=88763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/tags?post=88763"},{"taxonomy":"newsletter-post","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/newsletter-post?post=88763"},{"taxonomy":"site","embeddable":true,"href":"https:\/\/outliereditor.co.za\/index.php\/wp-json\/wp\/v2\/site?post=88763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}