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Demand analysis on remittances in West African Francophone countries: Côte d’Ivoire, Mali, and Senegal

Countries in West Africa offer opportunities to create cash-to-account services linked to demand-driven value-added services:

  • There is an opportunity to create cash-to-account services linked to demand driven value-added services, such as bill payments or asset building through partnerships, particularly in rural areas that receive a large portion of remittances.
  • Migrants have been investing in their countries of origin and require both financial and non-financial support. Building awareness and increasing financial literacy efforts helps migrants to understand what products they and their families should invest in, which can strengthen the financial systems in both their home and host countries.
  • Higher-income remitters seek entrepreneurship loans and housing or land loans to eventually return home. Existing products do not cater to these aspirational objectives.
  • Permanent migrants seek solutions for family members in their country of origin for preventive healthcare, human capital investments, such as education, training or skill-building and financing entrepreneurship. The marketing messages for these types of services require refinement to increase uptake.
  • Financial and digital literacy are barriers but mobile and interactive voice recognition (IVR) applications have emerged as a solution. The migrants needs support to facilitate the onboarding process and gain traction for usage of digital channels.

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