Africans in Diaspora remit $10b yearly

African governments need to do more to realize the full economic benefits of their citizens in Diaspora, says a new report by the African Development Bank and the World Bank. The report said that with about 30 million Africans living outside their home countries, migration is a vital lifeline for the continent. The report: “Leveraging Migration for Africa: Remittances, Skills, and Investments”, presents data from new surveys. The report finds evidence that suggest migration and remittances reduce poverty in the origin communities.

Remittances lead to increased investments in health, education, and housing in Africa in addition to capital, trade, knowledge, and technology transfers. The report also discovered that two-thirds of migrants from Sub-Saharan Africa, particularly poorer migrants, go to other countries in the region, while more than 90 percent of migrants from North Africa have move outside the African continent.

The top destinations for African migrants are France with 9 per cent of total emigrants, Cote d’Ivoire 8 per cent, South Africa 6 percent, Saudi Arabia 5 percent, United States and the United Kingdom 4 per cent each.