African workers abroad pay a tenth of remittances value to send it home

A new report shows that the impact of remittances from abroad to Africa is being affected by the high cost of sending the cash to the continent.

The UK-based Developing Markets Associates says in a report that sending money to Africa is more expensive than anywhere else in the world, at an average 10 percent, compared to the global average of 7 percent.

The report shows that remittances from the UK to Uganda cost 9% compared to just 7% to Kenya, which is the lowest.

Sending cash to Tanzania and Rwanda cost the highest at 13 and 14% respectively, while the UN recommends a world average of 5%.

Meanwhile, the 65,000 Ugandans in the UK , sent home 181 million pounds or 826 billion shillings last year compared to Kenya’s 151,000 who remitted 334 million pounds.

Rwanda got 9 million pounds from 4,800 Rwandans living in the UK.