Monday, September 23, 2019
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East Africa's Remittance Far More Than Foreign Investment

The latest figures from the World bank has identified East Africa as the largest source of external financing in the form of remittances in the low and middle-income countries in Africa.

According to the World bank, the Eastern corridor of the African continent is now the highest receiver of remittances from her citizens around the world.

The figures reveals that East African countries received 17.38 billion Dollars between the year 2013 and 2018 as foreign remittances.

This record surpassed her foreign direct investment to become the largest source of external financing in the low and middle-income countries.


Kenya topped the region as the biggest beneficiary of remittances with 10.74 billion Dollars followed by Uganda with 6.28 billion Dollars.

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