[IFAD] The UN’s International Fund for Agricultural Development, IFAD, announced partnerships on Tuesday to slash the cost of migrant remittances to Ghana with financial services providers Ecobank Ghana and Fidelity Bank and pan-African fintech MFS Africa, aiming to boost a vital source of income for a country grappling with the economic impact of the COVID pandemic and Ukraine war.
Through the PRIME Africa initiative, also co-financed by the European Union (EU), IFAD is providing grants to leading private sector actors to expand access and lower costs of digital remittances from migrant workers based in several European countries.