Despite the significant impact remittance has on developing countries, the cost of sending money across borders is still above the United Nations sustainable development goal of 3% with Sub-Saharan Africa having the highest average remittance cost of about 7.8%.
The Indian government is planning to expand its Unified Payments Interface (UPI) in Africa through commercial partnerships between payment platforms. According to Mint, an Indian business publication, the government is in talks with "several African countries", including Namibia, Mozambique, and Kenya.
