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Africa's $95 Billion Remittances Outpace Export Revenues in 2024

9/26/2025

27 3 Full Breakdown

Summary

Story summary

In 2024, Africa received over $95 billion in remittances, surpassing export revenues in many countries, including The Gambia and Somalia.
Remittances help ease inflation and unemployment.
Kenya and Ethiopia pursue migration policies, diaspora bonds, and circular migration to boost financing.
Kenya's Labour Migration Management Bill aims to streamline mobility and protect citizens abroad from exploitation.

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Story summary

In 2024, Africa received over $95 billion in remittances, surpassing export revenues in many countries, including The Gambia and Somalia.
Remittances help ease inflation and unemployment.
Kenya and Ethiopia pursue migration policies, diaspora bonds, and circular migration to boost financing.
Kenya's Labour Migration Management Bill aims to streamline mobility and protect citizens abroad from exploitation.