Mali: Kaberuka Calls for More Efficient Channeling of Remittances From African Migrants

26 September 2007
African Development Bank (Abidjan)

Bamako — At the end of his official visit to Mali, President Donald Kaberuka made a strongly appeal for more efficient channeling of remittances from the African Diaspora.

According to a study conducted by the AfDB, remittances by the African Diaspora range from about 14 to 17 billion American dollars each year.

In Mali's case, with 3.5 million of its 4 million expatriate nationals living in Africa, remittances from the Malian Diaspora in France made through official channels amount to 120 billion CFA francs, which is comparable to the development aid for Mali. For other countries, such as Morocco, Senegal or the Comoros Islands, Diaspora remittances account for 750%, 218% and 346% of the Official Development Assistance respectively, reveals the AfDB study.

The reports indicates, however, that the impact of these large sums is limited by the very high transfer costs (on average 19 - for 100 -), which discourages the Diaspora from using the official channel.

President Kaberuka indicated AfDB's interest in supporting African countries to better channel financial transfers from the Diaspora. "The Diaspora is increasingly playing a key role given the size and stability of its remittances, he declared, adding that, "What needs to be done now is to engage the Diaspora in the development of its country, by lifting the constraints that impede these remittances, which constitute a huge supplement to funds provided by donors."

President Kaberuka, who was also in Mali for a meeting on the replenishment of the African Development Fund (ADF), the concessional window of the AfDB, also called on the international community to increase its support to African countries, with special emphasis on regional integration and post-conflict countries. He also felt that the discussions of the meeting were moving in the right direction, and giving hope to African peoples.

Immediately after the meeting, Mr. Kaberuka started an official visit to Mali on 22 and 23 September at the invitation of the President of the Republic of Mali, Mr. Amadou Toumani Touré.

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