Remittances News

Sudan: Central Bank Directs Banks to Hand Over Expatriate Remittances in the Same Currencies Transferred


 | Source: Sudan News Agency; All Africa

The Central Bank of Sudan (CBOS) has instructed all banks to hand over expatriate remittances in the same currencies as they have been transferred to facilitate the flow of Sudanese remittances abroad and provide them with distinctive banking services.

Nigeria: W'Bank Predicts $22bn Foreign Remittances for Nigeria in 2017


 | Source: This Day; All Africa

The World Bank has predicted that Nigeria will record foreign remittances inflow of $22 billion in 2017, higher than the $19 billion recorded by the country in 2016.

East Africa: Sending Money to Tz From UK Most Costly in E. Africa - Report


 | Source: The Citizen; All Africa

Sending money to Tanzania is the most expensive in the Eastern and Southern Africa, a London based consultancy organisation, Developing Markets Associates (DMA) June global report shows.

Africa: Post Offices Are Key to Scaling Up Remittances and Financial Inclusion in Uganda


 | Source: IFAD; All Africa

The International Fund for Agricultural Development (IFAD), Postbank of Uganda (PBU) and Posta Uganda signed a grant agreement today aimed at expanding the role of postal networks in the delivery of remittances and access to financial inclusion across the country.

South Africa: High Bank Charges Force Immigrants to Send Money Home 'Hand-to-Hand'


 | Source: GroundUp: All Africa

A new survey by Cape Town-based refugee rights advocacy group The Scalabrini Centre has found that the high cost of sending money has kept migrants from using formal remittance systems.

Remittances to Developing Countries Decline for Second Consecutive Year


Remittances to developing countries fell for a second consecutive year in 2016, a trend not seen in three decades, says the latest edition of the Migration and Development Brief, released today during the World Bank’s Spring Meetings.

U.S. sanctions affect remittances to Somalia


With $1.4 billion remittances into Somalia in 2015, accounting for 23 percent of GDP, remittances play a significant role in the economy and livelihood of Somalis.

Kenyans in diaspora are the biggest senders of mobile to mobile remittances, says WorldRemit


According to WorldRemit, mobile to mobile remittances accounts for 93 percent of WorldRemit transactions to Kenya

BCEAO blocks Orange Money transfers to France


The operator no longer has the right to exercise foreign transfers.

Nigeria to raise $300 million diaspora bond


The bond is expected to be issued by June 2017 and mature for a period of five to seven years.

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