• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

10 African Countries With The Lowest Diaspora Remittances

6 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

10 African Countries With The Lowest Diaspora Remittances

Diaspora remittances, sent by individuals working abroad, often exceed Foreign Direct Investment (FDI) and Official Development Assistance (ODA), providing crucial support for families and economies.

Many Africans migrate abroad in search of better economic opportunities, higher incomes, and greater political stability.

Africa’s diaspora remittances in figures

In 2023, Africa received $100 billion in remittances, which accounted for nearly 6% of the continent’s Gross Domestic Product (GDP) according to the World Bank.

This amount surpassed both ODA ($42 billion) and FDI ($48 billion), underlining the importance of remittances in bolstering the economic foundation of low- and middle-income countries across the continent.

Engaging the diaspora is essential, as these remittances are often driven by the strong connections migrants maintain with their countries of origin.

Despite the significant role diaspora remittances play in many African economies, several challenges contribute to low remittance flows.

Financial barriers and regulatory issues are major obstacles, which often reduce the amount of money sent back to families in African nations.

This reduction can be indicative of economic struggles, as high money transfer costs and inefficient systems discourage both migrants and potential investors.

While Egypt, Nigeria, Morocco, Kenya, and Ghana lead in diaspora remittances, other African nations struggle with lower inflows due to economic, political, and infrastructural challenges. High transaction costs, unstable financial systems, and limited access to formal services further hinder remittances, highlighting the need for reforms to boost economic development.

According to the World Bank, the following countries recorded the lowest remittances during the period in review.

RankCountryAmount ($)
1Central African Republic0
2Chad0
3Equatorial Guinea0
4Eritrea0
5Libya0
6Seychelles11 million
7Angola12 million
8Gabon18 million
9Namibia43 million
10Congo, Rep.44 million

Remittance amounts in these countries vary based on migration patterns, diaspora size, and financial infrastructure, which can be improved to further boost remittance flows

Countries like the Central African Republic, Chad, Equatorial Guinea, Eritrea, and Libya reported zero remittance flows in 2024, mainly due to political instability, economic isolation, and smaller diaspora populations.

In contrast, nations like Seychelles ($11 million), Angola ($12 million), Gabon ($18 million), Namibia ($43 million), and Congo Rep. ($44 million) have more significant remittance inflows.

Although these remittances reflected the lowest in Africa, these countries benefit from a more established diaspora community than their counterparts in the ranking.

 

Source: businessinsiderafrica
Via: NorvanReports
Tags: 10 African Countries With The Lowest Diaspora Remittancesdiaspora remittances

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.