By Chijioke Ohuocha | Reuters
Nigeria hopes to attract more remittances from its diaspora to boost foreign currency liquidity after the central bank issued a circular on Monday lifting rules that had restricted inflows.
Continue reading “Nigeria eases rules on diaspora remittances to boost FX liquidity”
The African diaspora sends more money to Africa than U.S. foreign aid and foreign direct investment. In 2018, sub-Saharan Africa received $25 billion in development assistance. In that same year, immigrants in the United States sent $46 billion in remittances to their home countries in Africa, out of a total of $150 billion sent from the United States globally.
Continue reading “How Remittances From Africans in Petit Senegal in New York Builds Wealth Abroad”
By Kelvin J. Kelley
The estimate by the Pew Research Centre is based on statistics developed last year by the World Bank
The United Kingdom was Kenya’s single-largest source of remittances, with $663 million sent home in 2017.
Kenyans living in the US, which ranked second, sent back $584 million.
Ghana and Senegal each accounted for about $2.2 billion in remittances.
Kenyans living abroad sent almost $2 billion (Sh200 billion) to their families and others in their homeland in 2017, a US data-analysis group said.
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