Africans in the Diaspora send less money to families at home
The global economic downturn is hurting Africans in the Diaspora. It’s harder for them to send money home, and that leads to problems for those who depend on the funds.
Remittances to developing countries are expected to fall from $305 billion in 2008 to $208 billion for 2009, according to the World Bank. The severity of the problem is seen in the fact that in many developing countries, remittances are reported to bring in even more money than direct aid.
Millions of Africans depend on their relatives in the Diaspora to send them funds for their daily livelihood, including food and other essential commodities. Read more
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