- Nigeria
According to World Bank (WB) data, Nigeria recorded US$19.5 billion (Sh2.5 trillion) as total direct foreign exchange (FX) remittances which accounts for 35 per cent of Africa’s total remittance, making it the highest in the continent. Sadly, this number is declining at the rate of 2.9 per cent year by year. WB and Budget Office of the Federation, Nigeria’s diaspora remittances have played a key role in assuaging the impact of foreign exchange scarcity and keeping the country’s forex reserve afloat.
- Ghana
Ghana’s diaspora remitted US$4.9 billion (Sh644.3 billion) according to the report making the West African nation the second highest in the continent. Last year, President Nana Akufo-Addo launched the diaspora engagement policy to enable Ghana build a mutually beneficial relationship with its diaspora populations around the world. The president explained that the support is not only for remittances, but also for exchange of skills, knowledge and innovation for long-term investments and sustainability.
- Kenya
Despite criticism for poor diaspora policy, Kenya is now earning more foreign exchange from its diaspora than tea, horticulture and tourism. According to WB reports, Kenya earned US$4.2 billion (Sh552 billion) making it the third highest in the continent. It is for this reason that the government is paying close attention to Kenyans abroad and has since established a state department to respond to their specific issues. The US has sustained its position as the largest source of remittances to the country after it hit an all-time high of US$228.4 million (Sh30 billion), which accounts for 56 per cent of the total remitted value. This increased dollar inflow has been crucial in easing pressure on the shilling this year, supporting the supply side of the dollar against demand by importers shipping in goods.
- Zimbabwe
The flow of remittances to Zimbabwe is huge, with diaspora remittances from outside the country estimated at over US$3.1 billion (Sh407 billion) per annum and this comprises 16 per cent of its total foreign exchange receipts. There are roughly three million Zimbabweans in the diaspora (mostly South Africa) or further afield, including the UK.
- Senegal
Senegal is the fifth country in terms of diaspora remittance, earning a total of US$2.9 billion (Sh381 billion). It is said that low sending costs and remittance regulations are low and clear contributing to the rise of remittance particularly from the European Union. However, there are still challenges facing the country as the digital payment ecosystem is fragmented, and electronic money payment services still remains limited despite the development of mobile money at a domestic level.
- DRC
The total remittances into Democratic Republic of the Congo (DRC) is said to be US$1.4 billion (Sh184 billion) according to the WB report. The largest of these remittance markets is Angola, followed by France and Congo-Brazzaville. The DRC has a long-standing history of migrant flows, and historically flows to and from Europe have been of particular significance. However, in the 1990s onwards, substantial political and economic upheavals have been linked with major transformations in the way Congolese migrate. Congolese emigrants increased in numbers and were increasingly undocumented, which made them become less likely to return to DRC. Then they started to move to a greater variety of international destinations like in Europe and Africa respectively with France and South Africa becoming increasingly popular destination countries. While educated, wealthier Congolese are still more likely to migrate, since the 1990s political pressure has meant that emigrants have increasingly come from all social classes.
- Uganda
Uganda’s diaspora remittances have had a 13.4 per cent increase, reaching US$1.4 billion (Sh184 billion). As per the norm in other African countries, remittances continue to outshine foreign direct investment and official development assistance as the primary source of external finance for low and middle-income countries. Most of the remittances are for consumption purposes and takes care of medical, education and other household expenditures. Another use of remittances is for investment, especially construction or land purchase.
- Mali
The personal remittances received in Mali increased by US$46.6 million (Sh6.1 billion), a 4.21 per cent increase, since the previous year. Therefore, the personal remittances received in Mali reached a peak in 2023 with US$1.2 billion (Sh157.2 billion). There are four million Malian diaspora globally with 250,000 of them residing in Europe and more than half of them living in France. Remittances are flows of money between immigrants and their relatives.
- South Sudan
Annual remittances of around US$1 billion (131 billion) are essential to Sudan’s economy and society, empowered by a global diaspora. Understanding this lifeline and maximising on its value as the source of foreign currency and investment is crucial. There are more than 1.7 million Sudanese living outside their country who form part of the diaspora.
- South Africa
South Africa is the 10th country and the diaspora community brings a total of US$800 million (Sh105 billion) according to WB reports. In 2020, cumulative South African emigrants amounted to approximately 915,000 with a vast majority settling in the United Kingdom (around 247,000) and followed by Australia (nearly 200,000). Together, the two countries constituted roughly 49 per cent of the total South African migrants living abroad. The UK is one of the easiest countries for South Africans to emigrate to because of its popularity and large expat community. In addition, it boasts a powerful economy, top-notch educational institutions with rich history of diplomatic ties with South Africa.
