Saturday, 23 October 2010

WB Urges African Governments, Financial Institutions to Leverage Development Impact of Remittances

The FINANCIAL -- Remittances to sub-Saharan Africa exceed US$21 billion and are forecast to grow by almost 2 percent in 2010 despite a weak global economy, according to World Bank estimates on remittances flows.

A recent Bank survey for Kenya estimates that 14 percent of adult Kenyans regularly receive an average of US$735 in remittances from abroad a year. This amount is remitted in seven transactions amounting to US$105 each, according to the survey for Kenya, which was launched today at a joint conference by the World Bank and the Central Bank of Kenya in Nairobi. Read more

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