African Foundation for Development (AFFORD)

AFFORD congratulates the hard work and immense contributions of migrants and diasporas around the world, especially those from Africa who sent over $86 billion to loved ones.

The African corridor is the most expensive global corridor for remittances, with average costs of 10-12 per cent compared to the global average of 5-7 per cent.

AFFORD is working with different stakeholders – Central Banks, Money Transfer Organisations, Bureaux de Change; Commercial Banks, etc) to reduce the average costs in the Gambian, Rwandan and Sierra Leonean corridors to 3 percent by 2030 as part of the global target under Sustainable Development Goal (SDG) 10.c.

Stakeholder typology: Public sector