Remittances sent by the African diaspora reached a historic figure of USD 100 billion in 2024. This volume already represents 6 % of continental GDP, consolidating Africans abroad as key players in the continent's economic development.
Egypt topped the list of recipients, with $22.7 billion. It was followed by Nigeria ($19.8 billion), Morocco ($12 billion), Kenya ($4.8 billion) and Ghana ($4.6 billion), according to data compiled by World Visualized and various African economic sources.
These flows, unlike international aid or foreign investment, go directly to households. They go mainly to essential expenditures such as education, health and support for small businesses, strengthening the real economy without intermediaries.
Remittance growth over the last decade has been 57 %, while foreign direct investment fell by 41 % over the same period. This divergence underlines the growing role of African communities abroad as a stable and continuous financial mainstay.
Analysts note that these transfers not only alleviate poverty, but also generate economic autonomy and resilience in the face of global crises. Africa now looks to its diaspora as a structural force for transformation.
Source: afridigest.com; africa.businessinsider.com; @authentic_african