South Africa, Tanzania, and Ghana are the most expensive sending countries in Africa, with prices averaging 20.7 percent, 19.7 percent, and 19.0 percent respectively
Jan. 28, 2012 - In a report this morning by the World Bank, African immigrants sent a whopping $60 billion to Africa in 2012, but were overcharged $4 billion by money transfer companies, which averaged 12.4% in charges as against 6.54% charged to South Asians. This is more than twice the total amount of aid received by Africa, which amounted to $28 billion. “Bilateral aid to sub-Saharan Africa was USD 28.0 billion, representing a fall of -0.9% in real terms compared to 2010. By contrast, aid to the African continent increased by +0.9% to USD 31.4 billion, as donors provided more aid to North Africa after the revolutions in the region,” according to a report by the OECD (Organization for Economic Co-operation and Development), in 2012.(Read More)
Chika A. Onyeani Publisher/Editor-in-Chief African Sun Times: www.africansuntimes.com Host: All Africa Radio: www.allafricaradio.com Tel.: 973-675-9919 Fax: 973-675-5704 Cell: 917-279-4038
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- AFRICANS SENT $60 BILLION TO AFRICA IN 2012, BUT OVERCHARGED $4 BILLION BY MONEY TRANSFER COMPANIES, chika onyeani, 01/30/2013