Remittance markets comprise both an important means of supporting impoverished communities, and a commercial opportunity for financial sector operators. In migrant heavy communities, remittance products can be the most important form of financial service provided, which is often disproportionately benefits female-headed recipient households.
In 2012 FinMark Trust commissioned an exercise to estimate the size of remittance flows from South Africa, which is a key regional hub for economic migration, to the various countries in the Southern African Development Community (SADC). The 2012 study was widely used in business case development by FSP’s, and had an influence on policy and regulation in the sector. This paper provides an update of that exercise for 2016, using, and where possible updating, the methodologies deployed in 2012, and taking in to account the market innovations and regulatory changes that have taken place.