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Updated Jan 31, 2020

Remittances to Africa from higher-income countries grew 43 percent in 2019, according to the online money transfer service WorldRemit. Ghana, Kenya, Uganda, Zimbabwe, and Nigeria received the most remittances from their respective diasporas, with Sweden, the United States, Australia, Canada, and the United Kingdom as the top sources of remittances.

Besides standard justifications for remittances being sent back home, there is a growing sense among the diaspora to invest more aggressively in their home countries, instead of simply supporting friends and family who stayed. Ghana, for example, launched a new initiative under President Nana Akufo-Addo, called Beyond the Return, which intends to incentivize diaspora investment in Ghana through business start-ups, property acquisition, relocating, and investment vehicles the government is setting up.

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