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Mobile money remains the cheapest method of sending international remittances; the average cost of sending $200 using mobile money is well below the UN's SDG 10.c target. With over a billion registered mobile money accounts globally and close to $2 billion in daily transactions, the mobile money industry will continue to play its vital role in increasing digitisation and building resilience of those for whom remittances are a crucial financial lifeline during a crisis and enabling migrants and their families to attain their own Sustainable Development Goals (SDGs).

The best way to realize the full potential of FinTech to support the SDGs is to focus on four pillars: (i) digital identity and simplified account opening and e-KYC systems, (ii) open interoperable electronic payments systems, (iii) using the infrastructure of (i) and (ii) to underpin electronic provision of government services and payments, and (iv) digital financial markets and systems to support broader access to finance and investment.

"Basic and feature phone technologies have revolutionised how people in emerging markets interact, as stated in our 2018 report on Mobile Technology for the SDGs: Reaching Further with Low Tech. Despite growing smartphone penetration on the continent and the growing popularity of mobile apps, low tech continues to play a significant role in many emerging markets. Notably, nine in 10 mobile money transactions in Sub-Saharan Africa still flow through USSD (Unstructured Supplementary Service Data). Specifically, USSD has proved to be a useful tool in dealing with the fallout of the COVID-19 pandemic."

Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) published a stocktaking paper that I co-authored on the degrees of central bank digital currency (CBDC) technical assistance (TA) support for lower- and middle-income countries (LMICs). It highlights the different options for CBDC support for LMIC authorities in their general-purpose/retail and wholesale CBDC exploration journeys. It also shows how demand outstrips supply in fit-for- purpose assistance and the important role of development partners in closing this gap in order to ensure that CBDCs can meet the expectations in relation to achieving the sustainable development goals (SDGs). Also the paper highlights the remaining gaps in optimally equipping authorities in LMICs in their CBDC pursuit.