Cairo: Remittances from African expatriates surged to unprecedented levels in 2024, with Egypt leading the way as the top recipient among five African countries, followed by Nigeria, Morocco, Kenya, and Ghana, according to a report by Global South World.
According to Bahrain News Agency, the report, as cited by the Middle East News Agency (MENA), indicated that remittance flows from African expatriates experienced a remarkable increase of 57%. Recent data from the Central Bank of Egypt shows that remittances from Egyptians working abroad continued their upward trajectory, achieving an increase during the period from July 2024 to March 2025, rising by 82.7% year-on-year to approximately $26.4 billion, compared to about $14.4 billion.
Nigerian remittances reached $19.8 billion, placing Nigeria second. Morocco ranked third with remittances of $12 billion, followed by Kenya in fourth place with $4.8 billion, and Ghana also with $4.8 billion in remittances.
The report noted that remittance flows in 2023 exceeded official development assistance as well as total foreign direct investment in the continent, which amounted to $48 billion for the same year.