The African Development Bank and the World Bank have just published the report, “Leveraging Migration for Africa: Remittances, Skills, and Investments.”
Two-thirds of migrants from Sub-Saharan Africa go to other countries in the region, while more than 90 percent of migrants from North Africa have moved outside the African continent. The top destinations for African migrants are France (9 percent of total emigrants), Cote d’Ivoire (8 percent), South Africa (6 percent), Saudi Arabia (5 percent), and the United States and the United Kingdom (4 percent each).
Recorded remittances into Africa, which grew fourfold between 1990 and 2010 to reach nearly $40 billion in 2010, are the continent’s largest source of foreign capital after foreign direct investments. Recent surveys show that investments such as land purchases, building a home, and starting a business were the highest use of remittances sent home by Africa diaspora. Education was the second-highest use of remittances from outside Africa into Nigeria and Uganda, the third highest into Burkina Faso, and the fourth highest into Kenya.
The full report is available online.