Remittance costs in Africa as of Q1 2024, by country

Published by
Raynor de Best,
Nov 9, 2024

Sending remittances to countries in Sub-Saharan Africa was significantly more expensive than countries like Ethiopia or South Africa, as of the first quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.

Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Africa in 1st quarter of 2024

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Sources

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Release date

July 2024

Region

Algeria, Angola, Botswana, Cameroon, Democratic Republic of the Congo, Benin, Ethiopia, Eritrea, Gambia, Ivory Coast, Kenya, Liberia, Madagascar, Malawi, Mali, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, Somalia, South Africa, Zimbabwe, South Sudan, Sudan, Togo, Tunisia, Uganda, Egypt, Tanzania, Zambia, Cape Verde, Lesotho, Eswatini

Survey time period

Q1 2024

Special properties

Includes cash, bank account transfers, credit cards, debit cards, prepaid cards, and mobile money

Supplementary notes

The source states it investigates 105 remittance receiving countries, compared to 48 remittance sending countries. It is therefore likely that not all countries have data for both situations.

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Statistics on " Remittance flows by country worldwide "

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Flows, worldwide

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Costs, worldwide

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Africa

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Europe

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Latin America and the Caribbean

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Middle East and Central Asia

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North America

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South Asia, East Asia, Australia and Oceania

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Southeast Asia

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Topics

RemittanceGross Domestic Product (GDP) worldwideGlobal economyGlobal economic indicatorsCBDC (Central Bank Digital Currencies)
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