Africa: World Bank Projects U.S.$33 Billion Remittances to Africa

Growth of remittances to the Sub-Saharan Africa region is projected to slow to 0.9 percent in 2015, amounting to $33 billion, according World Bank's latest Migration and Development Brief.

It said Nigeria alone accounts for around two-thirds of total remittance inflows to the region, but its remittances are estimated to have remained flat in 2014, at roughly $21 billion. The regional growth in remittances in 2014 largely reflected strong growth in Kenya (10.7 percent), South Africa (7.1 percent) and Uganda (6.8 percent). The level of remittance dependency varies across countries.

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