Tag Archives: remittances

Remittances sent back to Africa are a considerable growth pillar for the continent and are currently nearly double the total value of aid. The top 10 countries listed here each have remittance inflows of more than US$1 billion. SPECIAL REPORT | BIRD AGENCY | Africa’s growing diaspora community is increasingly …

Kenya is witnessing a surge in remittances from its citizens in other African countries, highlighting the economic impact of intra-African migration. This trend gains significance as European remittance hubs face severe inflation. Experts attribute the rise in intra-African remittances to digital innovation and a growing network of money transfer avenues. …

How to move conversations from the recent U.S. Africa Leaders Summit by the Biden administration into Action COMMENT | Almaz Negash | With a median age of 20 years and 60 percent of the population under 25, Africa is the youngest continent in the world and holds the future. Projections show that …

They are vital for continent’s growth, say participants at African Development Bank Forum Kampala, Uganda | AGENCIES | Hundreds of academics and leaders of international institutions from around the world came together for an African Development Bank (AfDB) Forum on ways to harness the skills, wealth and dynamism of Africa’s 160-million-strong diaspora …

Kampala, Uganda | THE INDEPENDENT | Delays in financial remittances from member states are still a major impediment to the operations and activities of the East African Legislative Assembly (EALA). This was revealed by EALA MPs sitting on the accounts committee who are in Uganda to benchmark on the best parliamentary practices. …

Kampala, Uganda | THE INDEPENDENT | While labour externalization is on an increase in Uganda, experts have pointed out that the country lacks a return policy that supports them to be able to sustain themselves in the economy when they return home. Agnes Igoye, the Deputy National Coordinator, Prevention of Trafficking in …

Nairobi, Kenya | XINHUA | Kenya’s Edwin Kamau secured a job as a mechanic in the gulf state of Qatar. He is set to join the growing number of Kenyans seeking greener pastures abroad. The 27-year-old father of three was recruited last week by an employment agency based in Nairobi …

Kampala, Uganda | THE INDEPENDENT | The Uganda Investment Authority (UIA) predicts a significant decline in both Foreign Direct Investment (FDI) and domestic direct investment (DDI), particularly in tourism, transport and construction sectors due to the economic crisis induced by the COVID-19 pandemic and shutdown. The value of planned FDI …

Washington, United States | AFP | Developing countries are losing a key source of revenue as the coronavirus pandemic causes worldwide shutdowns, sharply reducing payments from workers living abroad, the World Bank said Wednesday. Remittances are expected to plunge by about 20 percent globally this year, the biggest decline in recent …

Kampala, Uganda | THE INDEPENDENT | Countries that have been receiving money in the form of investment in exploration activities – search for minerals – like Uganda will see this dry up as companies cut their spending due to the impact of the coronavirus . This is according to the World …