NDIC Receives Award for Support to FICAN, Financial Journalism

Pan African bank, Ecobank announced in a statement after...

The Nigerian Content Development and Monitoring Board (NCDMB), in...

The third Quarter results released by STACO Insurance Plc...

L-R: Abisola Olusanya, Commissioner of Agriculture, Lagos State; Honourable...

Sub-saharan Africa is the most expensive region for sending money inform of remittance from other parts of the world, according to the latest report by the World Bank Group. The report listed South Asia as the least expensive. The World Bank said over $62.5 billion has so far been saved for migrants who send money home to their families in an initiative began in 2005 by the Bank and the international community to reduce the cost of sending money home. Each quarter the World Bank publishes data on how much it costs to send money home.

Francis Dufay, the Managing Director of JUMIA Côte d’Ivoire has called for better infrastructure to foster rapid and sustainable growth of the e-commerce sector in Africa. He said Côte d’Ivoire "has the basics of the different types of infrastructure" needed for e-commerce and "the challenge remains to improve each of these elements." E-commerce is based on four key infrastructures: Internet, logistics, payment and the legal framework. Although JUMIA managed to transcend the limitations inherent to each type of infrastructure, allowing it to route some 2,000 parcels daily, several points would benefit from qualitative evolutions; including: Logistics with a need for; better roads, 3PL offering the highest quality of service at competitive prices and a more comprehensive addressing system. Payment; where the widespread adoption of cashless payment methods such as mobile money for which JUMIA enjoys the expert support of MTN, should be encouraged. The regulatory and organisational framework could benefit from more education for stakeholders for a better understanding of contractual implications. And internet, whose penetration estimated at 8 million people in Côte d'Ivoire, remains curtailed.

Stanbic IBTC Holdings PLC, a member of the Standard...

Microsoft Nigeria has partnered the Candle Career to organise...