First Independent Mena Newspaper
Sub-Saharan Africa remains the world’s most expensive region when it comes to transferring remittances, with an average cost of transferring money of 8.37% in the second quarter of 2024, according to the World Bank’s most recent report. This cost remains significantly above the global average, despite the increasing importance of remittances in the region’s economies. […]
Remittances to Africa and the Middle East, which play a pivotal role in many regional economies, significantly contributing to their GDP, are estimated to have increased 5.4% in 2024, primarily due to rebounded flows to Egypt, after a 14.6% decline in 2023. In 2024, remittance flows to low- and middle-income countries are expected to reach […]
Global remittances from African diaspora to their home continent are set to exceed $100bn a year amid demographic trends in Europe such as an aging population and a low birth rate that are creating a need for continued migration. Remittances to low- and middle-income countries (LMICs) grew an estimated 3.8% last year, a moderation from […]