REMITTANCES SENT by Filipinos overseas, which now account for 10 percent of the gross national product, may no longer contribute as much to the economy seven years from now.
This was according to state-owned Development Bank of the Philippines, which said the economy needed to prepare itself for the time when it would no longer receive a substantial boost from the money sent by overseas Filipino workers.
“Currently, remittances are a major growth driver and it will continue to be in the next seven years. After that, however, things may change,” Reynaldo David, DBP president and chief executive officer, told reporters Thursday.
David was one of the speakers during a business forum organized by the Association of Development Financing Institutions in Asia and the Pacific [ADFIAP].
Over the medium to long term, he said, more and more OFWs and their families were expected to live permanently in their host countries. As a result, he said, remittances sent to the Philippines would likely shrink.
By the time that happens, he said , the Philippines should have already strengthened its economy and that growth would be sustained even with less money sent from abroad.
Currently, remittances contribute about 10 percent of the country’s GNP and fuel consumption, which accounts for 70 percent of the gross domestic product.
GNP is the sum of the values of goods produced and services rendered by Filipinos, both here and abroad. GDP is the sum of the values of goods produced and services rendered within the country, both by Filipinos and foreigners. Read more
Thursday, 29 October 2009
Kenya: Forex remittances via mobile phones
Kenyans can now receive remittances from family and friends in the United Kingdom via their mobile phones through a service called M-PESA. This follows a successful pilot project with selected outlets in the UK over the last three months.
mobile phone
The international component of M-PESA makes Safaricom the first telecom company to offer a mobile based international money transfer service. The pilot according to Itnewsafrica.com engaged three agents - Western Union, Provident Capital Transfers and KenTv.
A total of 19 outlets were carefully selected to cover areas with relatively high number of Kenyans, including Reading, London, Luton, Wembley and Glasgow, the report said. Read more
mobile phone
The international component of M-PESA makes Safaricom the first telecom company to offer a mobile based international money transfer service. The pilot according to Itnewsafrica.com engaged three agents - Western Union, Provident Capital Transfers and KenTv.
A total of 19 outlets were carefully selected to cover areas with relatively high number of Kenyans, including Reading, London, Luton, Wembley and Glasgow, the report said. Read more
Philippines: Remittances to lose their luster
REMITTANCES from migrant workers will remain a major growth driver in the medium term but could lose significance after, the chief of the Development Bank of the Philippines (DBP) said.
DBP President Reynaldo G. David, speaking at a panel discussion on remittances at an Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) forum, urged the government and businessmen to create more local jobs to offset a likely decline in the cross-border flows.
He asked: "The growth rates will continue in the next six to seven years, but how long will that go on?" Read more
DBP President Reynaldo G. David, speaking at a panel discussion on remittances at an Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) forum, urged the government and businessmen to create more local jobs to offset a likely decline in the cross-border flows.
He asked: "The growth rates will continue in the next six to seven years, but how long will that go on?" Read more
First Ever Debit Card Service for Somalia
HARGEISA, Somalia, October 29 /PRNewswire/ -- Dahabshiil, the largest international money transfer business in the Horn of Africa, has launched the first ever debit card service in Somalia to help individuals and businesses make and receive payments.
The service, called Dahabshiil eCash, will enable customers to pay for goods and services at any shop, restaurant, hotel or petrol station that is an official Dahabshiil merchant and has a point of sale terminal on the premises.
Abdirashid Duale, CEO of Dahabshiil, said: "We are delighted to be the first company in the region to provide our customers with the facility to make and receive payments via debit card. This underlines our intention to be at the forefront of the region's banking and money transfer sectors. Read more
The service, called Dahabshiil eCash, will enable customers to pay for goods and services at any shop, restaurant, hotel or petrol station that is an official Dahabshiil merchant and has a point of sale terminal on the premises.
Abdirashid Duale, CEO of Dahabshiil, said: "We are delighted to be the first company in the region to provide our customers with the facility to make and receive payments via debit card. This underlines our intention to be at the forefront of the region's banking and money transfer sectors. Read more
Tuesday, 27 October 2009
AFRICA: ADB moves to enhance remittance flow to Africa
By Babajide Komolafe
African Developemnt Bank has commenced moves to enhance inflow of remittances from African migrant. Last week Friday, the Bank Group signed an agreement with the French government and the International Fund for Agricultural Development (IFAD) to establish a multilateral Trust Fund to improve African migrant remittances.
The agreement was signed by the ADB President, Donald Kaberuka; the French Immigration, Integration and Cooperative Development Minister, Eric Besson and IFAD’s Director for West and Central Africa, Mohamed Béavogui.Read more
African Developemnt Bank has commenced moves to enhance inflow of remittances from African migrant. Last week Friday, the Bank Group signed an agreement with the French government and the International Fund for Agricultural Development (IFAD) to establish a multilateral Trust Fund to improve African migrant remittances.
The agreement was signed by the ADB President, Donald Kaberuka; the French Immigration, Integration and Cooperative Development Minister, Eric Besson and IFAD’s Director for West and Central Africa, Mohamed Béavogui.Read more
Juniper Research: Half a Million People Will Use Mobile Money Transfer Services by 2014
Research and analysis firm Juniper Research (News - Alert) recently revealed a study showing that global consumer demand for money transfer services will significantly increase and cross the 500 million threshold by 2014.
This proliferation of mobile money transfer services will be mainly in developing countries, the firm’s research finds. Details of this analysis have been outlined in its latest report, “Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014.” The report further purports that several new mobile money services which are in the pipeline will counter political, regulatory and commercial obstacles before their services can be distributed in the market. Read more
This proliferation of mobile money transfer services will be mainly in developing countries, the firm’s research finds. Details of this analysis have been outlined in its latest report, “Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014.” The report further purports that several new mobile money services which are in the pipeline will counter political, regulatory and commercial obstacles before their services can be distributed in the market. Read more
Nigeria: The Nation Earns $3.3 Billion Agriculture Remittances-Ifad
Abuja — According to a World Bank record presented at the International Fund for Agricultural Development (IFAD) remittances forum in Tunisia yesterday, Nigeria ranks top among five leading African countries with the highest remittances inflow.
Making a presentation at the IFAD forum, Director of the Association of Ethiopian Microfinance Institutions Wolday Amha said Nigeria is leading the pack of the top five African countries in terms of remittances inflow under a World Bank survey followed by Kenya, Sudan, Senegal and Sudan who get $1.3 billion, $1.2 billion, $874 million and $856 million respectively. Read more
Making a presentation at the IFAD forum, Director of the Association of Ethiopian Microfinance Institutions Wolday Amha said Nigeria is leading the pack of the top five African countries in terms of remittances inflow under a World Bank survey followed by Kenya, Sudan, Senegal and Sudan who get $1.3 billion, $1.2 billion, $874 million and $856 million respectively. Read more
Monday, 26 October 2009
Dollars Without Borders: Can the Global Flow of Remittances Survive the Crisis?
Between 2003 and 2008, on the back of a growing world economy, remittances more than doubled, reaching as much as $330 billion in 2008. Now, with the world's largest economies in steep decline, many fear that the flow of remittances will also take a hit, threatening the millions who depend on funds sent by relatives and friends working abroad to meet basic needs.
In fact, remittances are proving to be one of the more resilient pieces of the global economy in the downturn, and will likely play a large role in the economic development and recovery of many poor countries. Remittances provide the most tangible link between migration and development, a relationship that has only increased in importance since the crash. To ensure that these funds can move efficiently and easily around the globe, governments of rich and poor countries should attempt to make remittances as accessible and cheap as possible. Read more
In fact, remittances are proving to be one of the more resilient pieces of the global economy in the downturn, and will likely play a large role in the economic development and recovery of many poor countries. Remittances provide the most tangible link between migration and development, a relationship that has only increased in importance since the crash. To ensure that these funds can move efficiently and easily around the globe, governments of rich and poor countries should attempt to make remittances as accessible and cheap as possible. Read more
Migration: Remittances Also Drive Political Change
* by Thalif Deen (united nations)
* Monday, October 05, 2009
* Inter Press Service
The world's 200 million international migrants have traditionally been viewed in terms of dollars and cents: how much hard currency have they remitted to their home countries?
But a new study, commissioned by the U.N. Development Programme (UNDP) and released Monday, also focuses on the political side of the equation.
What role did migrants play in the politics or civil wars in their home countries: Lebanon, Sri Lanka, Liberia, Mozambique, Turkey, Morocco?
In Lebanon, returning migrants used the wealth earned abroad to engage in politics, particularly when new political forces were formed after the 1989 Ta'ef Accord ending the country's longstanding civil war. Read more
* Monday, October 05, 2009
* Inter Press Service
The world's 200 million international migrants have traditionally been viewed in terms of dollars and cents: how much hard currency have they remitted to their home countries?
But a new study, commissioned by the U.N. Development Programme (UNDP) and released Monday, also focuses on the political side of the equation.
What role did migrants play in the politics or civil wars in their home countries: Lebanon, Sri Lanka, Liberia, Mozambique, Turkey, Morocco?
In Lebanon, returning migrants used the wealth earned abroad to engage in politics, particularly when new political forces were formed after the 1989 Ta'ef Accord ending the country's longstanding civil war. Read more
EVENT: Results Presentation of “Survey on Remittances 2009, Childhood and Adolescence”
Friday, 30-10-2009 to Friday, 30-10-2009
Guatemala City, Guatemala - IOM Guatemala and the UN Children’s Fund (UNICEF) are presenting the results of the “Survey on Remittances 2009, Childhood and Adolescence” at the Hotel Real Intercontinental on 30 October 2009.
The “Survey on Remittances 2009, Childhood and Adolescence” is part of the series of annual surveys carried out by IOM Guatemala since 2002.
The problems affecting children and adolescents as a consequence of international emigration, mainly due to the absence of their parents, have become an increasing concern for governments and the international community. These problems are often the cause of international emigration, or they may prompt the involvement of children and adolescents in gangs or illegal activities. Read more
Guatemala City, Guatemala - IOM Guatemala and the UN Children’s Fund (UNICEF) are presenting the results of the “Survey on Remittances 2009, Childhood and Adolescence” at the Hotel Real Intercontinental on 30 October 2009.
The “Survey on Remittances 2009, Childhood and Adolescence” is part of the series of annual surveys carried out by IOM Guatemala since 2002.
The problems affecting children and adolescents as a consequence of international emigration, mainly due to the absence of their parents, have become an increasing concern for governments and the international community. These problems are often the cause of international emigration, or they may prompt the involvement of children and adolescents in gangs or illegal activities. Read more
India: Rupee rolls up to cheer up remittances
Saturday, Mar 15, 2008
Gulf News
The rupee's depreciation in the past few weeks should bring cheer to the millions of Indian expatriates in the Gulf. The decline is expected to continue in the coming months as turbulent stock markets and a widening trade deficit take their toll.
The rupee has weakened more than two per cent against the dollar so far this year, pressured by equity outflows and a severe shortage of spot dollars in the market. Curbs on foreign borrowing imposed by the government last year and the global credit woes caused by the US subprime crisis have also cut inflows.
After gaining more than 12 per cent in 2007, the rupee has fallen to around 40.5 per dollar, its weakest since mid-September and farther away from a near 10-year high of 39.16 in November. [Read more]
Gulf News
The rupee's depreciation in the past few weeks should bring cheer to the millions of Indian expatriates in the Gulf. The decline is expected to continue in the coming months as turbulent stock markets and a widening trade deficit take their toll.
The rupee has weakened more than two per cent against the dollar so far this year, pressured by equity outflows and a severe shortage of spot dollars in the market. Curbs on foreign borrowing imposed by the government last year and the global credit woes caused by the US subprime crisis have also cut inflows.
After gaining more than 12 per cent in 2007, the rupee has fallen to around 40.5 per dollar, its weakest since mid-September and farther away from a near 10-year high of 39.16 in November. [Read more]
BANGLADESH: EBL, RPCF signs agreement to simplify remittance payments
Eastern Bank Limited (EBL) will soon launch multiple remittance services products through their Telco Partners, Visa Card and other electronic payment channels which will simplify the migrant's remittances in Bangladesh.
With this end in view, EBL signed a grant implementation agreement with Remittance and Payments Challenge Fund (RPCF) in Dhaka recently.
Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank Ltd and Robert Smith, Challenge Fund Manager of RPCF signed the agreement on behalf of their respective sides. Senior executives from both the sides were present on the occasion.
Under the agreement RPCF will support the EBL's visionary initiative towards simplification of remittances payments through various Electronic Alternate Payment Channels.
RPCF is the cost sharing grant facility of the remittances and payments partnership between Bangladeshi banks and institutions and UK Department for International Developments. Source
With this end in view, EBL signed a grant implementation agreement with Remittance and Payments Challenge Fund (RPCF) in Dhaka recently.
Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank Ltd and Robert Smith, Challenge Fund Manager of RPCF signed the agreement on behalf of their respective sides. Senior executives from both the sides were present on the occasion.
Under the agreement RPCF will support the EBL's visionary initiative towards simplification of remittances payments through various Electronic Alternate Payment Channels.
RPCF is the cost sharing grant facility of the remittances and payments partnership between Bangladeshi banks and institutions and UK Department for International Developments. Source
SOMALIA: Anti-terror laws hinder Somali immigrants
For months, Somalis living in Columbus have complained that it has become increasingly difficult to send money home to family members because of banking-industry fears that the funds could end up with terrorists.
Huntington, JPMorgan Chase and Charter One are among the banks that have closed accounts set up by remittance companies, said Omar Tarazi, a local lawyer who has worked with the Somali American Chamber of Commerce and several remittance companies.
Somali leaders said remittances that refugees send home are a lifeline to families and friends struggling in the war-torn African nation. It has few banks, so remittance companies are crucial to sending money home. Read more
Huntington, JPMorgan Chase and Charter One are among the banks that have closed accounts set up by remittance companies, said Omar Tarazi, a local lawyer who has worked with the Somali American Chamber of Commerce and several remittance companies.
Somali leaders said remittances that refugees send home are a lifeline to families and friends struggling in the war-torn African nation. It has few banks, so remittance companies are crucial to sending money home. Read more
Sunday, 25 October 2009
Yemeni expatriate remittances make up nine percent of the national income
YEMEN - Yemeni expatriate remittances (money sent by a foreign worker to his home country) have been responsible for nine percent of the gross national income during the past eight years, reported Abdul Karim al-Mogharm, the sub-governor of Central Bank of Yemen, during an expatriates conference that was held recently in Sana'a.
Al-Mogharm had prepared a paper on investment opportunities in the banking sector, which he presented at the conference. He emphasized the essential nature of remittances in supporting Yemen's foreign exchange reserves, balancing payments, and increasing the national income. Al-Mogharm went on to say that “emigrants' remittances helped finance the country's needs,” and added that “an average of 3.5 percent of the financing for the country's imports came from remittances.” Read more
Al-Mogharm had prepared a paper on investment opportunities in the banking sector, which he presented at the conference. He emphasized the essential nature of remittances in supporting Yemen's foreign exchange reserves, balancing payments, and increasing the national income. Al-Mogharm went on to say that “emigrants' remittances helped finance the country's needs,” and added that “an average of 3.5 percent of the financing for the country's imports came from remittances.” Read more
Friday, 16 October 2009
Remittances to Moldova exceed 730 million dollars in eight months of 2009
Oct. 15, 2009 / [7596]
Chisinau, 15 October /MOLDPRES/ - Moldovans working abroad remitted over 730 million dollars through commercial banks in the first eight months of 2009. This is by about 35 per cent less against the same period last year, when the remittances amounted to 1.1 billion dollars, according to data by the National Bank of Moldova (BNM).
Remittances from abroad started decreasing last January. In August 2009, the transfers stood at 103 million dollars, at the same level as a month before. The drop in remittances is triggered by the economic crisis, as part of the Moldovans working abroad lost their jobs or returned home.
Government officials have forecast that, in 2009, the remittances will remain at the last year's level or will drop because of the economic crisis.
BNM data also showed that 82 per cent of all the money was sent through quick transfer systems, among which Western Union, Migom, Strada Italia, Express Mail, etc.
In 2008, remittances from abroad reached a record-high level - 1.66 billion dollars. In 2007, Moldovans sent home about 1.2 billion dollars, and 855 million dollars in 2006. Source
Chisinau, 15 October /MOLDPRES/ - Moldovans working abroad remitted over 730 million dollars through commercial banks in the first eight months of 2009. This is by about 35 per cent less against the same period last year, when the remittances amounted to 1.1 billion dollars, according to data by the National Bank of Moldova (BNM).
Remittances from abroad started decreasing last January. In August 2009, the transfers stood at 103 million dollars, at the same level as a month before. The drop in remittances is triggered by the economic crisis, as part of the Moldovans working abroad lost their jobs or returned home.
Government officials have forecast that, in 2009, the remittances will remain at the last year's level or will drop because of the economic crisis.
BNM data also showed that 82 per cent of all the money was sent through quick transfer systems, among which Western Union, Migom, Strada Italia, Express Mail, etc.
In 2008, remittances from abroad reached a record-high level - 1.66 billion dollars. In 2007, Moldovans sent home about 1.2 billion dollars, and 855 million dollars in 2006. Source
UGANDA: MTN to Start Global Mobile Money Transfer
Kampala — MTN is to start international money transfer services, the chief marketing officer, Isaac Nsereko, has said.
"We are going global as well," said Nsereko in a telephone interview.
The development not only shifts the competition terrain to a geographical level, but ushers the telecoms into one of the most capitalised industries, international remittances.
Uganda's remittances from abroad were $724m in 2008, down from $786m in 2007 as a result of the global economic crisis. Read more
"We are going global as well," said Nsereko in a telephone interview.
The development not only shifts the competition terrain to a geographical level, but ushers the telecoms into one of the most capitalised industries, international remittances.
Uganda's remittances from abroad were $724m in 2008, down from $786m in 2007 as a result of the global economic crisis. Read more
Monday, 12 October 2009
INDIA: UAE-India non-oil trade worth over $44 bn, says Tharoor
Bilateral trade between the United Arab Emirates (UAE) and India was worth $44.5 billion in 2008-2009, WAM news agency reported Friday, citing India's Minister of State for External Affairs Shashi Tharoor.
This accounts for about half of India's total trade in the Gulf region. The figure is excluding the oil sector. India's trade with the six-member Gulf Cooperation Council (GCC) reached $86.9 billion, putting it ahead of the European Union ($80.6 billion) and ASEAN countries ($44.6 billion). Read more
This accounts for about half of India's total trade in the Gulf region. The figure is excluding the oil sector. India's trade with the six-member Gulf Cooperation Council (GCC) reached $86.9 billion, putting it ahead of the European Union ($80.6 billion) and ASEAN countries ($44.6 billion). Read more
PAKISTAN: 100% official channelisation of remittances urged
KARACHI: If 100 percent of all home remittances are channelised through official channels, the remittance amount would be doubled and we would not be in need of a begging bowl anymore, S M Muneer, President of Indo-Pak Chamber of Commerce and Industry said here on Thursday. Read more
JAMAICA: Good news on remittances, says Jamaican PM
KINGSTON, Jamaica (OPM) -- Prime Minister, Bruce Golding says there has been a slow down in the rate of decline in Jamaica's economy and based on reports he has received, remittances for August have shown an improvement of 8 per cent, compared to the figures for August last year.
Prime Minister Bruce Golding shares a light moment with Parliamentary Secretary in the Ministry of Culture, Youth & Sports, Senator Warren Newby at his 8th Town Hall meeting on the University of the West Indies, Mona Campus on October 6. Golding urged the students to improve the chances of employment by pursuing studies for jobs in demand locally.
The Prime Minister was speaking at his 8th Town Hall meeting in the Assembly Hall at the University of the West Indies (UWI), Mona campus, on Tuesday. Read more
Prime Minister Bruce Golding shares a light moment with Parliamentary Secretary in the Ministry of Culture, Youth & Sports, Senator Warren Newby at his 8th Town Hall meeting on the University of the West Indies, Mona Campus on October 6. Golding urged the students to improve the chances of employment by pursuing studies for jobs in demand locally.
The Prime Minister was speaking at his 8th Town Hall meeting in the Assembly Hall at the University of the West Indies (UWI), Mona campus, on Tuesday. Read more
NEW ZEALAND: Taking your money for a ride
Sending money overseas is notoriously expensive but greater transparency, regulatory changes and some new competition mean the sky-high sums charged by operators are starting to drop, commentators say.
Transferring money to the Pacific Islands can cost up to 25 per cent extra in fees, according to an international study. In some cases, the one-off fee can be up to NZ$185 for a single transfer.
With more than half a million New Zealand citizens living across the Tasman, Australia is our biggest remittance market – although no records are kept of just how much money is sent to family and friends there.
Some bank customers say sending A$100 to Australia can cost an extra A$50 to cover all the fees and charges. Read more
Transferring money to the Pacific Islands can cost up to 25 per cent extra in fees, according to an international study. In some cases, the one-off fee can be up to NZ$185 for a single transfer.
With more than half a million New Zealand citizens living across the Tasman, Australia is our biggest remittance market – although no records are kept of just how much money is sent to family and friends there.
Some bank customers say sending A$100 to Australia can cost an extra A$50 to cover all the fees and charges. Read more
Pakistan Overseas Remittances Rise to Record in Sept. (Update1)
By Farhan Sharif
Oct. 10 (Bloomberg) -- Remittances from Pakistanis living overseas rose to a record $806.1 million in September as workers sent more money home from the U.A.E. and Saudi Arabia.
Transfers of funds rose by $145.7 million, or 22.1 percent, in the third month of the fiscal year that began July 1, the Karachi-based State Bank of Pakistan said today in an e-mailed statement.
Workers in the Emirates transferred $504 million, up from $312.2 million a year earlier. Pakistanis in Saudi Arabia sent home $430.75 million, up from $398 million, and Pakistanis in the U.S. transferred $498.7 million, compared with $499.5 million. Read more
Oct. 10 (Bloomberg) -- Remittances from Pakistanis living overseas rose to a record $806.1 million in September as workers sent more money home from the U.A.E. and Saudi Arabia.
Transfers of funds rose by $145.7 million, or 22.1 percent, in the third month of the fiscal year that began July 1, the Karachi-based State Bank of Pakistan said today in an e-mailed statement.
Workers in the Emirates transferred $504 million, up from $312.2 million a year earlier. Pakistanis in Saudi Arabia sent home $430.75 million, up from $398 million, and Pakistanis in the U.S. transferred $498.7 million, compared with $499.5 million. Read more
PHILIPPINES: Remittances seen up 5%
HE National Economic and Development Authority (Neda) believes overseas Filipino workers (OFWs) are and will continue to respond to the calamity brought by typhoons Ondoy and Pepeng by boosting their remittances to relatives—an increase that may reach around 5 percent by the end of the year.
Neda Acting Director General Augusto Santos said it is also in the nature of Filipinos to help each other, especially relatives.
The Bangko Sentral ng Pilipinas (BSP) earlier expected the global economic crisis would reduce growth of worker remittances to zero, but in the first seven months of the year, remittances have already posted a 3.8-percent growth rate. Read more
Neda Acting Director General Augusto Santos said it is also in the nature of Filipinos to help each other, especially relatives.
The Bangko Sentral ng Pilipinas (BSP) earlier expected the global economic crisis would reduce growth of worker remittances to zero, but in the first seven months of the year, remittances have already posted a 3.8-percent growth rate. Read more
Rainy-day oil funds see Mideast through downturn
DUBAI, United Arab Emirates — The Middle East has weathered the global economic downturn better than other parts of the world because its energy exporters were able to tap billions of dollars in oil profits collected when prices were booming, the International Monetary Fund said Sunday.
By reaching into those reserves, major oil producers like Saudi Arabia shielded their economies from the worst of the slump by maintaining government spending and injecting liquidity into domestic banking systems rattled by the credit crisis.
Doing so not only blunted the impact of the downturn on their own economies, but also helped shore up the economies of neighboring countries without large oil reserves, the IMF said. Read more
By reaching into those reserves, major oil producers like Saudi Arabia shielded their economies from the worst of the slump by maintaining government spending and injecting liquidity into domestic banking systems rattled by the credit crisis.
Doing so not only blunted the impact of the downturn on their own economies, but also helped shore up the economies of neighboring countries without large oil reserves, the IMF said. Read more
Kenya leads region in remittances from abroad — UN report
Kenya received the bulk of remittances in the region in 2007, amounting to $1,588 million, while Uganda got $849 million, and $51 and $14 million were sent to Rwanda and Tanzania respectively.
According to the 2009 Human Development Report launched last week by the UN, average remittances per person in Kenya were $42, $27 for Uganda, $5 for Rwanda and $0 for Tanzania, compared with $26 as the average for sub-Saharan Africa, which received a total of $16,815 million. Read more
According to the 2009 Human Development Report launched last week by the UN, average remittances per person in Kenya were $42, $27 for Uganda, $5 for Rwanda and $0 for Tanzania, compared with $26 as the average for sub-Saharan Africa, which received a total of $16,815 million. Read more
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