Cost of diaspora remittances seen falling to 3pc after EU talks
European Union and African leaders pose for a picture during the European Union - Africa Summit on Migration, on November 11, 2015 in La Valletta, Malta. AFP PHOTO | MATTHEW MIRABELLI
The cost of sending money home from the diaspora is set to reduce thanks to behind-the-scenes discussions taking place at the EU African leaders’ summit in Malta.
According to the UK’s Financial Times an agreement is set to be reached to reduce transaction costs to “less than three per cent” of the total sent by 2030.
