remittances Archives - Wontumi Online

27 Jun

Ghana Laces 2nd In Remittances To Africa In 2023

wontumionlineBusinessremittances

Ghana placed 2nd in remittance flows to Africa in 2023, the World Bank has revealed in its 2024 Migration Development Report. The country recorded $4.6 billion in remittance receipts in 2023. Nigeria came 1st with remittance flows of $19.5 billion. Kenya, Zimbabwe and Senegal came 3rd, 4th and 5th with inflows of $4.2 billion, $3.1 billion and $2.9 billion respectively. According to the World Bank, remittance flows to Sub-Saharan Africa were nearly 1.5 times the size of Foreign Direct Inflows in 2023, and relatively more stable. FDI flows to the region reached $38.6 billion in 2023, driven primarily by greenfield project announcements in…

Bank Of Ghana Approves RightCard To Operate Remittances To Ghana

wontumionlineBusinessBoG, remittances

RightCard Payment Services Limited (LemFi) is proud to announce that it has obtained approval from the Bank of Ghana (BoG) to resume its remittance services to Ghana with some of its approved partners. This is consistent with RightCard’s (LemFi) commitment to providing secure and efficient services while complying with the set regulatory framework by the Bank of Ghana. Today, RightCard (LemFi) has formally announced the resumption of its services to Ghana, following a temporary suspension of its money transfer services to Ghana in November 2023. RightCard Payment Services Limited (LemFi) can now deliver its services in Ghana through payment companies,…

Ghana Records $4.7bn In Remittances In 2022, Maintains 2nd Position In Africa

wontumionlineBusinessGDP, remittances

Ghana maintained its position as the 2nd largest recipient of remittances in Africa, recording $4.7 billion inflows in 2022. This is 4.4% more than the previous year. According to the latest World Bank Migration and Development Brief, Ghana received the second-largest remittance inflow in dollar terms and the ninth-largest level in relation to Gross Domestic Product in Africa. Indeed, it constituted 6.1% of GDP. The report said remittance flows to Africa in 2021 registered a strong 16.4% increase to reach $50 billion, exceeding expectations. The largest recipients of remittances in the region during 2022 – measured in US dollar terms –…