- Total remittances in sub-Saharan Africa in 2022 totalled $52.9 billion
- Nigeria had the highest remittance in the region during the period
- World Bank stated that the sub-Saharan region witnessed a high cost of remittance
A recent World Bank study found that out of the estimated $52.9 billion remittance flow into Sub-Saharan Africa in 2022, Nigeria accounted for the largest.
Nigeria accounts for 38% of total remittances at $20.1 billion, greater than Ghana’s 11.9%, Kenya’s 8.5%, Tanzania’s 25%, Uganda’s 17.3%, and Rwanda’s 21.2% rates.
