“Eighty per cent of unbanked Samoans responded that they do not have a bank account due to a lack of money.” CBS
The CBS has supported the UN and its work on digital inclusion.
About 40% of Somoans are unbanked.
The remittance rates are high, with 56% of people in Samoa receiving them.
Mobile phone penetration by sale of phones is high (71 percent) but only 3.7% have actual accounts.
There is a lot of infrastructure worked needed before CBDCs can be introduced. The remittance’s data mean the advantages would be felt in terms of cost savings and time to receive monies.