Fall in remittance payments hits Africa

2020 was a year of economic turmoil in much of the world, due in part to economic lockdowns imposed to restrict the spread of Covid-19. That downturn has affected remittance payments sent to Africa, which fell by 12.5% last year according to a new World Bank report.

Plus, a risk analysis company estimates that more than $18 million has been handed over to criminals in Nigeria as ransom money over the past 10 years, to recover people who have been kidnapped.

And how blockchain technology is powering the cryptocurrencies seeking to decentralise control over money, and how Africa could benefit.

(Photo: Money transfer agencies in Abidjan; Credit: Getty Images)