Why are Africans Getting Ripped off on Remittances?
Thursday, April 24, 2014
Whatever your views of migration, a consensus ought to be possible on one thing: if migrants do send money home, as much as possible of the hard-earned dollars that they send should actually get there, to be spent on putting feeding the kids, putting them through school or even having a bit of fun (that’s allowed too).
But according to some excellent new research by the ODI, one in eight dollars remitted to Africa is creamed off by intermediaries – a much higher level than for other regions. They launched the report at a meeting in London last week, and the high preponderance of Africans at the launch bore witness to the anger this level of rent-seeking arouses.