African diaspora remittances reach $124.2 billion in 2025

African diaspora remittances reached $124.2 billion in 2025, according to the ‘Sending Money Home 2026’ report by the International Fund for Agricultural Development (IFAD). This figure represents an 86% increase compared to 2016 and has surpassed both official development assistance and foreign direct investment as a primary source of external financing for many nations.

Five countries account for nearly three-quarters of these flows: Egypt ($41.5 billion), Nigeria ($22.8 billion), Morocco ($13.7 billion), Ethiopia ($7.1 billion), and Kenya ($5 billion). Notably, Egypt has overtaken Nigeria as the top recipient in Africa, with its remittance totals more than doubling over the last decade.

On a global scale, transfers to low- and middle-income countries rose to $728.6 billion in 2025, a 94% increase since 2016. Approximately one-third of all remittances sent to Africa, totaling roughly $42 billion, is directed toward rural areas, providing vital support for families with limited access to formal employment and financial services.