East African diaspora grappling with remittance costs
The average cost of sending money to Uganda by migrant workers is 11.3%, higher than the global average of 6.25% and African standards at 8.35%, more than triple the Sustainable Development Goal (SDG) target of 3%.
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East African diaspora grappling with remittance costs
NewVision Reporter
@NewVision
Remittances from the East African diaspora soared to a record $9.3b (about shillings 36 trillion) in 2022 from $5.4b in 2017 despite the high cost of funds transfer,