Ghana places 2nd in remittances to Africa in 2023 – World Bank

The World Bank's 2024 Migration Development Report ranked Ghana second in remittance flows to Africa in 2023, with $4.6 billion in remittance receipts.

Nigeria topped the list at $19.5 billion. Kenya, Zimbabwe, and Senegal followed with $4.2 billion, $3.1 billion, and $2.9 billion, respectively.

Remittances to Sub-Saharan Africa were 1.5 times larger than Foreign Direct Inflows in 2023, reaching $38.6 billion.

Remittances have become a crucial foreign exchange earner, exceeding key exports in some countries.