According to a report by the International Fund for Agricultural Development (IFAD), Senegal has emerged as the leader in migrant remittances within the West African Economic and Monetary Union (UEMOA) in 2025. The country received 2,522 billion FCFA from its diaspora, significantly surpassing the Côte d'Ivoire, which received 1,060 billion FCFA. These figures highlight the substantial financial contributions of migrant communities to their home countries.
Globally, remittances to low- and middle-income countries reached 728.6 billion dollars, approximately 1,960 billion FCFA, in 2025. This represents a nearly twofold increase over the past decade. The IFAD report also noted that around 220 million migrants support 1.1 billion family members worldwide. Typically, these remittances range between 300 and 400 dollars, sent 9 to 10 times a year per household.
Within the UEMOA region, Senegal's 2,522 billion FCFA in remittances is a significant figure. Other countries in the region, such as Burkina Faso, received 343 billion FCFA, while Guinea-Bissau received 125 billion FCFA, and Mali received 616 billion FCFA. In the broader Economic Community of West African States (ECOWAS), Senegal ranks second, behind Nigeria, which received 13,140 billion FCFA from its migrants.
The Senegalese government is now focused on optimizing the use of these funds, which account for 27% of the country's Gross Domestic Product (GDP). According to a study by the Senegalese firm A&A Strategy, the government aims to increase diaspora investment to 4% of GDP and mobilize financial savings to 5% of GDP by 2034. This translates to a target of 3,311 billion FCFA in cumulative productive transfers.
To achieve these objectives, the Senegalese government plans to tap into the 45% of diaspora savings kept in host countries, estimated at 1,545 billion FCFA in 2024. Currently, only 55% of diaspora savings are transferred to Senegal, amounting to 1,982 billion FCFA. The majority of remittances, 81%, are channeled through formal circuits, with 75% of these funds directed towards current consumption.
Projections by A&A Strategy indicate that the global diaspora savings will peak at 7,148 billion FCFA by 2034. This amount includes both subsistence transfers and productive transfers. The government's strategy involves creating mechanisms to mobilize a portion of the 1,545 billion FCFA in diaspora savings held in host countries. This could potentially unlock additional productive transfers.
The implementation of a proactive strategy could enable Senegal to mobilize significantly more funds. In a baseline scenario, productive savings mobilization would remain limited to 975 billion FCFA by 2034. However, with a targeted strategy, an additional 1,218 billion FCFA could be mobilized in productive transfers. This development could substantially boost Senegal's economic growth and investment capacity.
Key points
- Senegal received 2,522 billion FCFA in migrant remittances in 2025, leading the UEMOA region.
- The Senegalese government aims to increase diaspora investment to 4% of GDP and mobilize financial savings to 5% of GDP by 2034.
- A proactive strategy could unlock an additional 1,218 billion FCFA in productive transfers by 2034.
