Average remittance cost from South Africa

The average transaction cost of sending remittances from South Africa to selected economies is very high and has not declined meaningfully over the last decade. Cross border payments are even more expensive for smaller amounts: sending R200 from South Africa to Eswatini costs on average 30% according to World Bank data. Transfer costs from South Africa to other African economies is usually higher than when the source country is Australia, Canada, the United Kingdom or the United States.

Footnote

Note  that it is difficult to compare remittance costs across jurisdictions because of data availability and differences in the currencies exchanged.

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