When pulled together, African migrant riches could go a long way in lifting up the economy of the continent. Over the years, A lot of African immigrants have bee using the service of Western Union, Moneygram and other similar money transfer agents to send home part of the money they earn and save.
Undoubtedly, there are so many African migrants across the west. They range from all works of life. According to top economists, if the money made by migrants from Nigeria, one thirdGhana and Kenya are pulled together. It could go a long way in lifting up the economy of the continent.It is estimated that about $10 billion can be saved from African diaspora (African Migrant Riches).
This one-third of the amount estimated by World Bank top economist, Dilip Rath ($30 billion). In his words, “We don’t know whether African diaspora members would only want to invest 10, 20 or 50% of their total savings,” he says. “The estimate we’ve put together is an underestimate — the true size of savings that diaspora members have is probably significantly larger.”