Egypt leads African remittance recipients in 2024 with $22.7B, while Nigeria trails behind with $19.8B

  • Africa received $96.4 billion in remittances in 2024.
  • Egypt ($22.7B) and Nigeria ($19.8B) dominated inflows, accounting for nearly half of the continent’s total.
  • Egypt’s 16% growth reflects stronger remittance networks and economic linkages with its diaspora.
  • Nigeria’s inflows grew modestly (1%).
  • Ghana recorded the highest growth (91%), indicating a resurgence in diaspora remittances.
  • Zimbabwe (-6%) and Tunisia (-3%) experienced declines, pointing to potential disruptions in inflow channels.

Remittances continue to play a vital role in sustaining African economies, with total inflows reaching $96.4 billion in 2024, according to World Bank estimates.

Egypt remains the continent’s largest recipient with $22.7 billion, followed closely by Nigeria at $19.8 billion. Together, the two countries accounted for nearly half of Africa’s total inflows, underscoring their large diasporas and the economic significance of remittances sent home by citizens abroad. While Nigeria recorded a marginal growth of 1%, Egypt’s remittance inflows grew by an impressive 16%, reflecting strong global ties and improving transfer systems.

Source:

World Bank

Period:

2024
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