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The World Bank Says Ethiopia's Diaspora Remittances Growing – Tadias Magazine

The World Bank Says Ethiopia’s Diaspora Remittances Growing

A new World Bank data shows remittances to Ethiopia from its Diaspora has increased in the past couple of years and expected to grow by over 50 per cent in the next three years. (Getty Images)

TVC NEWS

The World Bank says remittance flows to Kenya and Ethiopia from the diaspora has significantly increased compared to the rest of Sub-Saharan Africa.

The Central Bank of Kenya says the 12-month cumulative inflows from the diaspora to August increased by more than 9 % to 1.5 million dollars, from the 1 million dollars it recorded in the same period last year.

The National Bank of Ethiopia says the official receipt of remittances hit one and half billion dollars about 88 % jump over its value in the previous year.

Global remittances sent home from some 250 million migrants are projected to grow by about one percent to $ 588 billion.

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Related:
Kenya and Ethiopia Buck the Trend for Africa’s Drop in Inflows

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