…Nigeria, South Africa, Côte d’Ivoire, Uganda main destinations of growing intraregional movement
In its latest report of migration, the Bank said Nigeria, which received about 50 per cent of remittance flows to sub-Saharan Africa, could receive $19 billion this year. While the institution admitted that the figure would be a modest improvement on last year’s $17 billion, it noted that the projection is a far cry from the $23 billion received in the pre-COVID-19 era.
The bank observed tightening immigration requirements in the United States and the European Union, African nationals have continued to move to other countries at a quick pace. “Between 2010 and 2018, the African-born population in the United States surged by 52 per cent to more than two million versus 12 per cent growth for the total foreign-born population.
The report, ‘Debt Transparency in Developing Economies’, marks the first comprehensive assessment of the global and national systems for monitoring sovereign debt.