The Economics Blog

According to the World Bank, Remittances are “financial or in-kind transfers made by migrants to friends and relatives back in communities of origin”. 

The African diaspora is made up of over 30 million individuals who collectively contribute around US$40 billion in remittances to their families and communities annually. Due to its huge population, Nigeria has a massive diaspora community across the world and is one of the largest recipients of remittance flows in the continent ($23.8 billion) followed by Ghana ($3.5 billion) and Kenya ($2.8 billion) based on 2019 figures. 

Despite the growing significance of remittances, it is difficult to fully understand the relationship between African migration and remittance flows due to a plethora of factors. For instance, there is a dearth of official statistics on remittance flows to Africa due to the large scale of illegal migration within the continent and the ubiquity of informal remittance channels in the…

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