Africans Sent $60 Billion to Africa in 2012, But Overcharged $4 Billion by Money Transfer Companies.

[TheBlackList News]

South Africa, Tanzania, and Ghana are the most expensive sending countries in Africa, with prices averaging 20.7 percent, 19.7 percent, and 19.0 percent respectively

Jan. 28, 2012  -  In a report this morning by the World Bank, African immigrants sent a whopping $60 billion to Africa in 2012, but were overcharged $4 billion by money transfer companies, which averaged 12.4% in charges as against 6.54% charged to South Asians.  This is more than twice the total amount of aid received by Africa, which amounted to $28 billion.  “Bilateral aid to sub-Saharan Africa was USD 28.0 billion, representing a fall of -0.9% in real terms compared to 2010.  By contrast, aid to the African continent increased by +0.9% to USD 31.4 billion, as donors provided more aid to North Africa after the revolutions in the region,” according to a report by the OECD (Organization for Economic Co-operation and Development), in 2012.(Read More)

Chika A. Onyeani Publisher/Editor-in-Chief African Sun Times: www.africansuntimes.com Host: All Africa Radio: www.allafricaradio.com Tel.: [phone] Fax: [phone] Cell: 917-279-4038

"It is not what you call me, but what I answer to, that matters most" - Capitalist Nigger: The Road to Success, Onyeani's internationally acclaimed No. 1 bestselling book.

Have you bought Onyeani's new blockbuster novel, The Broederbond Conspiracy, www.thebroederbondconspiracy.com? or www.theblackjamesbond.com, adapted by the San Francisco State University "to teach students how to write a spy novel."

• AFRICANS SENT $60 BILLION TO AFRICA IN 2012, BUT OVERCHARGED $4 BILLION BY MONEY TRANSFER COMPANIES, chika onyeani, 01/30/2013