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Home Business The African diaspora remitted 650% more money to Sub-Saharan Africa in 2012 than the World Bank and IMF combined

The African diaspora remitted 650% more money to Sub-Saharan Africa in 2012 than the World Bank and IMF combined

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In Sub-Saharan Africa (SSA) alone, remittances in 2012 totaled US$31 billion, which is 650% more than the combined World Bank and IMF capital inflow. Remittances to the whole of Africa in 2012 totaled US$60 billion (excluding remittances via unofficial channels). The value is more than total Foreign Direct Investment valued at US$50 billion and more than the total 2011 foreign aid, valued at US$51 billion.  Read more here…

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