Africans living abroad sent a record $124.2 billion in remittances to their home countries in 2025, surpassing development assistance received by the continent. This private money, earned by migrants doing hard jobs in rich economies, flows to families in Africa, supporting their daily needs. The International Fund for Agricultural Development (IFAD) reported this 86% increase over a decade, outpacing population growth.
The scale of remittances is substantial, with Africa's share growing faster than its population, which rose 24% over the same period. The diaspora's contribution is now more than double the development assistance received by the continent. Globally, remittances to low- and middle-income countries reached $728.6 billion in 2025, a 94% jump in a decade.
Egypt received $41.5 billion in 2025, a 40% rise from the previous year, accounting for roughly a third of all remittances to Africa. Nigeria followed with $22.8 billion, and Morocco with $13.7 billion. Ethiopia and Kenya also entered the top five, displacing Ghana and Algeria. These five countries received about $90 billion, or 73% of all remittances to Africa.
Egypt's story is largely about policy changes, with the Central Bank's decision to float the pound leading to a surge in remittances. Before March 2024, a wide gap between official and parallel dollar rates pushed migrants towards the black market. After the policy change, remittances hit $29.6 billion in 2024 and $41.5 billion in 2025.
In Nigeria, remittances have become a strategic source of foreign exchange, with over 70% originating in the US, UK, and Canada. The Central Bank of Nigeria aims to increase monthly remittances to $1 billion by the end of 2026, up from $600 million. The bank has tightened rules on international money transfer operators to channel more money through formal markets.
Smaller economies rely heavily on remittances, with The Gambia, Liberia, Comoros, and Lesotho seeing remittances equal to 21-22% of their GDP. In some countries, remittances exceed the value of their entire exports of goods and services. For these economies, changes in visa rules in European capitals can have significant macroeconomic impacts.
Remittances support essential needs, with about three-quarters going towards food, shelter, and utilities. The remaining quarter supports health, education, housing, savings, and small businesses. In rural areas, remittances fund drought-resistant seed, small-scale irrigation, and soil conservation, acting as insurance and seed capital for families.
Key points
- Remittances to Africa reached $124.2 billion in 2025, an 86% increase from a decade ago.
- Egypt received $41.5 billion in remittances in 2025, a 40% rise from the previous year.
- Remittances support essential needs, with about three-quarters going towards food, shelter, and utilities.
