Somalia: Good News for Remittance-Makers to Africa - By Richard Dowden

18 April 2014
analysis

Very good news on Wednesday when Barclays Bank agreed to give Dahabshiil, the Somali remittance company, sufficient time to find another way of transferring money from the UK and elsewhere to Somalia before closing its account with them.

Up to $2 billion a year is sent from Somali exiles to their families back home, mainly through Dahabshiil. With much of the country destroyed by war, this inflow keeps millions of Somalis and their families alive, drives what business there is and enables more Somalis to stay and rebuild the country rather than seek exile.

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