How Remittances Can Be a Catalyst For Social Good
By Imane Charioui, Director of Francophone Africa, WorldRemit Overseas migrant workers are a vital element of Cameroon’s economy, with remittance inflows contributing significantly to the country’s progress and economic growth. Globally, personal remittances to the country increased by USD $96 million in 2021, a 29% rise compared to the previous year. Imane Charioui Data from Zepz shows that its users globally sent USD $300 million to Cameroon in 2022 through its two digital money channels WorldRemit and Sendwave. Many of these personal remittances were directed to families in Cameroon, providing education, healthcare, food, and funded personal development projects. In Sub-Saharan Africa, improved access to food and overall consumption of goods and services have been linked to receiving migrant remittances, leading to higher household income. This has played a crucial role in fighting poverty, addressing food shortages, and meeting other livelihood needs. In addition, remittances cont...