In Senegal, most remittance services operate over-the-counter cash collections but lockdown restrictions are making it hard for people to collect the money sent by relatives abroad.
Even as remittances dwindle due to lockdowns in the countries where the migrant workers are based, UNCDF says more action is now needed to develop and scale up digital remittance channels in Senegal.
UNCDF recommends, among other measures, that public-sector institutions partner with remittance service providers to help make the transition from over-the-counter services to fully digital means, such as e-wallets and online-accessible bank accounts.
Over the last few years, UNCDF and players in the mobile money, fintech, and remittance sectors have been actively working towards improving digital finance in Senegal.
