More than 200 million migrants across the globe send remittances to their home countries, many of them on the African continent, and that means some 800 million family members depend on them. In low- and middle-income countries, that amounted to US$554 billion last year, more than either the world’s official…
When it comes to the critical role of remittances, it’s hard to overstate the impact in African nations and the trend only continues to grow. For Gambians, such remittances – money sent home to families from loved ones working abroad – accounted for 15.1 percent of GDP in 2018. That’s…
The cost of remittances for African migrants was the focus of a three-day meeting in Ghana, as the International Organization for Migration (IOM) and other stakeholders looked at how to improve access. While the money sent home to families in sub-Saharan Africa is on the rise, the cost to transfer…