Telecom
Remittance Services in Africa: What Businesses Need to Know
Remittances represent a major source of financial inflow for African countries. The United Nations identifies remittances as a vital lifeline for more than 200 million Africans. It notes that beyond supporting the lives and livelihoods of families in the senders’ countries of origin, remittances or cash transfers represent solidarity and symbolise the generosity and resilience of the African community on the continent and beyond.
In 2023, remittances in Africa reached almost $100 billion, equalling nearly 6 per cent of the continent’s Gross Domestic Product (GDP) and exceeding Foreign Direct Investment (FDI) figure of $48 billion.
Within Sub-Saharan Africa, key markets for remittances are Nigeria, Kenya, Ghana and South Africa, with Nigeria alone receiving nearly half of all Sub-Saharan Africa’s remittances.
Remittance services are crucial for efficient international transactions, particularly for business involved in cross border operations. Remittance services facilitate the transfer of money from individuals and organisations to recipients in another country, playing a key role in Africa’s GDP growth and overall economic landscape.
Africa’s entrepreneurial sector and digital economy continue to expand rapidly. As such, the importance of efficient and reliable remittance services is increasing. For businesses looking to engage in cross-border trade, pay remote employees or manage international vendor relationships, understanding the dynamics of Africa’s remittance market is essential.
Current Landscape of Remittances in Africa
Africa is one of the largest recipients of remittances globally, with billions of dollars sent home each year by the African diaspora and businesses engaged in international operations. These remittances have significantly assisted in funding entrepreneurial ventures and stimulating regional economic growth.
However, the cost of digital remittances remains high, particularly in Africa. Research indicates that in 2023, the average cost of sending money through mobile applications to Africa was around 5 per cent, although it was lower in West Africa, at approximately 3 per cent.
The rise of digital technology, especially, is revolutionising traditional remittance channels like bank transfers and money transfer operators. Digital wallets, mobile money platforms, and blockchain-based solutions are emerging, making remittances faster, more accessible, and more affordable for businesses.
Who Are the Key Players in the African Remittance Space?
The African remittance landscape is populated by a variety of service providers, each bringing unique strengths to the market. From traditional money transfer operators to cutting-edge fintech platforms, businesses have a wide range of options to choose from.
Here are some of the leading players.
SeerBit
SeerBit is a Pan-African payment solutions provider dedicated to empowering SMEs and enterprise businesses by addressing barriers such as payment fragmentation and access to cutting-edge financial products, including remittance services. Known for its innovation and commitment to making payments simple, SeerBit ensures every business has the tools to serve their customers efficiently and scale their enterprise for growth.
Western Union
Western Union is a long-standing player in the global remittance market and maintains a strong presence in Africa. Known for its extensive network of physical locations, it offers reliable services even in rural areas, particularly where banking infrastructure may be limited.
WorldRemit
WorldRemit is a digital-first remittance provider, focused on simplifying the remittance process through its mobile and web platforms. It has gained popularity in Africa for its speed, convenience and lower fees compared to traditional players.
Sendwave
Sendwave specialises in mobile-based remittance services, focusing on low-cost, fast transactions primarily to African countries. It has become a preferred choice for the African diaspora due to its competitive fees and efficient service.
Flutterwave
Flutterwave is a leading African fintech company offering comprehensive financial solutions, including remittance services. It partners with global players like PayPal and Alipay to facilitate cross-border payments, making it a strong contender for businesses.
Challenges in Africa’s Remittance Market
Despite the growth and innovation in the African remittance space, several challenges persist:
Regulatory Issues: Strict regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, can make onboarding clients a long and complex process. In some countries, foreign exchange controls and restrictions on cross-border transactions add another layer of complexity.
High Fees: While digital solutions are driving down costs, traditional remittance services are still notorious for high fees. For businesses sending large sums or handling frequent transactions, these costs can accumulate and affect their bottom line.
Slow Processing Times: Traditional channels can take days for funds to reach recipients, which can hinder business efficiency, especially when dealing with urgent payments.
Accessibility in Rural Areas: In regions with poor banking infrastructure, access to remittance services can be limited. Digital platforms are bridging the gap, but there are still challenges in reaching remote locations.
Banking and Infrastructural Limitations: Inconsistent infrastructure, unreliable internet, and limited banking networks in some areas can slow down or complicate the remittance process, particularly for businesses operating in multiple countries.
Opportunities for Businesses Using Remittance Services
For businesses operating in or with Africa, remittance services such as those provided by SeerBit offer several strategic opportunities:
Cross-Border Transactions: Remittance services simplify cross-border payments for businesses dealing with international clients or suppliers. This can include paying for goods and services, settling vendor invoices or transferring funds between subsidiaries in different countries.
Payroll for Remote Teams: With the rise of remote work, companies are increasingly using remittance services to pay international employees and freelancers. This approach enables businesses to hire top talent from different parts of Africa without facing payroll complications.
Vendor Payments: Efficient remittance services ensure timely and reliable payments, allowing businesses to maintain strong relationships with suppliers.
Regulatory Considerations for Businesses
Operating in Africa’s remittance market requires a keen understanding of the regulatory environment. Here are some of the critical factors businesses must consider:
Central Bank Regulations: Each country has its regulatory framework, often overseen by central banks, that governs remittance services. Companies must comply with local laws and guidelines related to cross-border payments, exchange rate management and transaction reporting.
AML and KYC Compliance: To combat fraud and financial crime, businesses must adhere to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. These measures are designed to ensure the transparency and security of remittance services, though they can be resource-intensive.
Currency Exchange: Many African countries experience significant fluctuations in exchange rates. Companies need strategies to manage currency risks, such as hedging or using digital currency solutions that offer more stability.
To navigate these complexities, businesses should partner with experienced payment providers that have a strong track record in compliance and risk management.
What is the Future of Remittance Services in Africa?
The future of remittance services in Africa will be shaped by several trends.
Increased Fintech Investments: The rise in fintech investments is fuelling the development of innovative payment solutions that cater to the unique needs of African businesses. More startups are entering the market with niche offerings, targeting specific pain points like fee reduction and transaction speed.
Blockchain and Digital Currencies: Blockchain technology and the introduction of digital currencies are poised to make remittances faster, cheaper and more secure. Some companies are already using blockchain to bypass traditional banking networks, reducing costs and increasing transparency.
Integration with Business Ecosystems: Future remittance services are expected to integrate more seamlessly with other business tools, such as Enterprise Resource Planning (ERP) systems, accounting software and e-commerce platforms. This will provide businesses with more streamlined financial operations.
Businesses that stay ahead of these trends and adapt their strategies will be well-positioned to benefit from the evolving remittance landscape in Africa.
The continent’s remittance market is both dynamic and challenging, with numerous opportunities for growth. In a rapidly globalising economy, businesses cannot afford to overlook the significance of having a clear African strategy for remittance services. Understanding the current landscape, key players and the regulatory environment remain essential factors to guide informed decisions that enhance their financial operations.
Businesses can finetune their African strategy by exploring partnerships with trusted remittance services providers that align with their specific cross-border needs, ensuring they remain competitive in an increasingly digital and interconnected world.
Association of Telecommunications Companies of Nigeria (ATCON), umbrella organization for all telecommunications and ICT companies operating in Nigeria, has warned that telecom networks in the country are under threat from infrastructure attacks and vandalism.
Tony Emoekpere, president, ATCON, who stated this during an interview with Channels Television, has called for stronger protection of communication infrastructure nationwide.
He also urged Nigerians to treat telecom assets as critical to national development.
Emoekpere said operators in the telecommunications sector are not indifferent to the quality of service delivered to consumers, noting that industry stakeholders are already working closely with regulators, including the Nigerian Communications Commission (NCC), to tackle persistent challenges affecting network performance.
Emoekpere stressed that many of these challenges are beyond the direct control of operators and require stronger public cooperation in protecting telecom infrastructure.
He added that infrastructure destruction remains one of the biggest threats to service quality and network stability in Nigeria.
According to him, telecom assets should be regarded as essential national infrastructure that must be safeguarded by all citizens.
He said, “We’re here complaining about poor service, but when we see people vandalising infrastructure, we don’t complain; when we see people cutting cables, we don’t report.”
He further urged Nigerians to be more proactive in reporting acts of vandalism to the appropriate authorities.
Emoekpere warned that continued damage to telecom facilities will only worsen the quality of service experienced by consumers across the country.
He called for stronger awareness campaigns to educate the public on the importance of protecting communication infrastructure.
He also emphasized that improving service delivery requires shared responsibility between operators, regulators, and citizens.
He appealed for collective action to safeguard telecom infrastructure, noting that its protection is key to improving connectivity and driving national development
National Identity Management Commission (NIMC) has introduced new digital customer support channels, including WhatsApp and live chat services, to improve accessibility and service delivery for Nigerians and legal residents seeking assistance with National Identification Number (NIN) related issues.
NIMC
NIMC disclosed this in a statement, saying the initiative forms part of its ongoing digital transformation and customer service reforms.
According to the commission, the new support channels include a live chat feature on its official website and an official WhatsApp platform designed to provide faster and more convenient access to customer support services.
Members of the public can now access support through the Live Chat feature on the NIMC website via www.nimc.gov.ng and the official WhatsApp support line: +234 701 566 6971.
The commission said the initiative aligns with efforts to improve public sector efficiency and enhance access to government services through technology-driven solutions.
NIMC noted that the new platforms would enable users to receive prompt responses to enquiries, real-time guidance, and improved customer interaction without necessarily visiting physical offices.
The commission said the move reflects its commitment to service innovation, citizen-centred engagement, and efficient identity management service delivery.
Under the leadership of Director-General and Chief Executive Officer, Engr. Abisoye Coker-Odusote, NIMC said it had continued implementing reforms and digital solutions aimed at expanding access, strengthening public trust, and improving service delivery.
The commission encouraged Nigerians and legal residents to utilise the official platforms for verified information, assistance, and updates on NIN services and related identity management matters.
It also advised members of the public to remain vigilant and engage only through official communication channels to avoid fraud, scams, and misinformation.
The statement was signed by Kayode Adegoke, Head of Corporate Communications Unit, NIMC.
As families across the world celebrate Mother’s Day, QNET, a global lifestyle and wellness-focused direct selling company, honours mothers as the everyday force behind healthier homes, stronger families, and more resilient communities. From managing households and supporting family wellbeing to balancing careers and personal responsibilities, mothers play a central role in sustaining daily life. Yet, amid these responsibilities, their own wellness is often overlooked.
In today’s fast-paced environment, the demands of modern living continue to take a toll on human energy and well-being. Alarmingly, recent surveys indicate that 75% of Nigerian employees experience work-related stress, with 60% reporting persistent feelings of overwhelm.
These pressures are often compounded by economic realities that require many individuals to juggle multiple responsibilities or income streams. For women, particularly mothers, this burden is even greater. Beyond professional demands, they often take on the primary role of managing household well-being, childcare, and daily routines.
This continuous cycle of responsibility leaves little time for rest, recovery, or intentional self-care, increasing the risk of long-term physical and mental strain.
At the same time, access to basic wellness essentials remains a challenge. According to data from the WHO and UNICEF Joint Monitoring Programme, 28% of Nigerians lack access to basic drinking water, approximately 75% lack basic sanitation, two-thirds do not live in premises with a handwashing facility that includes soap and water, while 20% practice open defecation.
In many homes, ensuring safe water and overall family health largely falls to mothers, further reinforcing their central role in household well-being. This reality highlights the importance of recognising and celebrating mothers who consistently take on this responsibility, often placing the needs of their families above their own.
Commenting on the significance of the global observance, Ayokunmi Solesi, General Manager for QNET Nigeria, said, “Mothers are the backbone of many households. They give their time, energy, and care so consistently that their own well-being can sometimes take a back seat. Mother’s Day is an important reminder that supporting mothers’ health and wellness is not just a personal priority, but a family and societal one.”
He added that this perspective aligns with QNET’s 2026 global campaign, “Energised, Every Day,” which focuses on practical solutions that support everyday living. “When mothers are well-supported and energised, it positively impacts the entire household. Wellness should be part of daily life.”
As conversations around health continue to evolve, there is a growing shift towards preventive and lifestyle-based wellness – simple, consistent actions that support long-term vitality. This includes prioritising proper nutrition, hydration, rest, and balance as part of everyday routines, particularly for individuals managing demanding schedules.
Supporting this approach, QNET offers a range of products designed to fit seamlessly into daily life. Its nutritional supplement, EDG3 Plus, provides essential nutrients that contribute to daily vitality and help individuals maintain energy levels throughout busy days.
Recognising the importance of safe hydration in overall health, the HomePure Nova helps improve the quality of drinking water at home, supporting healthier households and reducing exposure to common water impurities.
In many Nigerian homes, where women play a key role in managing family health, access to cleaner water remains an essential part of everyday wellbeing.
Complementing this is the Amezcua Bio Disc 3, part of QNET’s wellness range, designed to support overall wellbeing across different aspects of daily life. Its versatile use within the home – from supporting food preservation to enhancing water quality and contributing to a more balanced living environment – makes it a practical wellness companion for families, particularly mothers managing multiple household needs.
As Mother’s Day is observed this year, QNET encourages families and communities to not only celebrate mothers but also to actively support their wellbeing. By creating healthier homes and encouraging better daily habits, the company reinforces its belief that true wellness begins with everyday choices and with those who hold the family together.
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