Moroccan External Economy in 2010: Profile and Propositions

Morocco’s Table on Five Pillars

The major resources of the Moroccan economy are agriculture, phosphates, and tourism. Sales of fish and seafood are important as well. Industryand mining contribute about one-third of the annual GDP. Morocco is the world’s third-largest producer of phosphates (after the United States andChina), and the price fluctuations of phosphates on the international market greatly influence Morocco’s economy. Tourism and workers’ remittances have played a critical role since independence. The production of textiles and clothing is part of a growing manufacturing sector that accounted for approximately 34% of total exports in 2002, employing 40% of the industrial workforce. The government wishes to increase textile and clothing exports from $1.27 billion in 2001 to $3.29 billion in 2010.

The services sector accounts for just over half of GDP and industry, made up of mining, construction and manufacturing, is an additional quarter. The sectors who recorded the highest growth are the tourism, telecoms and textile sectors. Morocco, however, still depends to an inordinate degree on agriculture. The sector accounts for only around 14% of GDP but employs 40-45% of the Moroccan population. With a semi-arid climate, it is difficult to assure good rainfall and Morocco’s GDP varies depending on the weather. Fiscal prudence has allowed for consolidation, with both the budget deficit and debt falling as a percentage of GDP.

In 2009 Morocco was ranked among the top thirty countries in the offshoring sector. Morocco opened its doors to offshoring in July 2006, as one component of the development initiative Plan Emergence, and has so far attracted roughly half of the French-speaking call centres that have gone offshore so far and a number of the Spanish ones. 

According to experts, multinational companies are attracted by Morocco’s geographical and cultural proximity to Europe, in addition to its time zone. In 2007 the country had about 200 call centres, including 30 of significant size, that employ a total of over 18,000 people.

The economic system of the country presents several facets. It is characterized by a large opening towards the outside world. France remains the primary trade partner (supplier and customer) of Morocco. France is also the primary creditor and foreign investor in Morocco. In the Arab world, Morocco has the second-largest non-oil GDP, behind Egypt, as of 2005.

Since the early 1980s, the Moroccan government has pursued an economic program toward accelerating real economy growth with the support of the International Monetary Fund, the World Bank, and the Paris Club of creditors. The country’s currency, the dirham, is now fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatized.

The high cost of imports, especially of petroleum imports, is a major problem. Another chronic problem is unreliable rainfall, which produces droughted sudden floods; in 1995, the country’s worst drought in 30 years forced Morocco to import grain and adversely affected the economy. Another drought occurred in 1997, and one in 1999–2000. Reduced incomes due to drought caused GDP to fall by 7.6% in 1995, by 2.3% in 1997, and by 1.5% in 1999. During the years between drought, good rains brought bumper crops to market. Good rainfall in 2001 led to a 5% GDP growth rate. Morocco suffers both from unemployment (9.6% in 2008), and a large external debt estimated at around $20 billion, or half of GDP in 2002.

Dix Commandements Prioritaires: Stratégie d’Exportation pour le Maroc


Is Morocco is considered as a brand, a company or space and how a strategy of development can be built, especially in a country characterized by subcapitalistic status


Les Leçons pour le Maroc concernant la gestion du Commerce Extérieur et la Promotion des Exportations comme Moteur de la Croissance Economique, comme Remède pour la Reprise Economique et surtout comme plateforme du take-off du réel développement économique du Maroc.

Est ce que le Maroc est consideree comme une marque, une compagnie ou bien un espace?

Dans tous les cas comment une stratégie de développement peut être édifiée, spécialement pour un pays qui se caractérise par un statut subcapitaliste

Is Morocco is considered as a brand, a company or space and how a strategy of development can be built, especially in a country characterized by subcapitalistic status

Développement National ou Émergence Globale: Paradoxe Marocain

1. Solidifier ses expertises et assurer ses spécialisations,

2. renforcer l’innovation et

3. réduire les importations par des substitutions produites locales et

4. surtout favoriser une augmentation des exportations par la stimulation de demande extérieure,

5. Utiliser la présence de la population d’origine marocaine dans les pays clés pour motiver les achats des produits Marocains

6. participation active et continuelle / annuelle dans les salons, les foires et les fêtes nationales des pays ciblés et les capitales commerciales de par le monde a travers un renouvellement des produits offerts et l’introduction de nouveaux produits et de nouvelles thématiques sur l’image du Maroc Exportateur,

7. renforcement logistique de la fonction des Attachés Commerciaux (d’agriculture et de produits manufactures et artisanaux) séparés de ceux qui servent de contact pour les sociétés étrangères et d’Agents de Développement National au niveau consulaire avec comme objectif leurs directes participations dans la création d’un salon international itinérant d’exposition permanente (virtuel et mortier) pour les marchés Latino-Américain, Méditerranéen et Africain, en premier en direction des pays utilisant les mêmes langues pratiquées au Maroc.

8. ouverture de nouveaux marchés sur la base des besoins des régions intérieures du Maroc et

9. l’extension des aides financières et logistiques aux petites et moyennes entreprises marocaines au niveau de l’appropriation (en encourageant l’appropriation par les Femmes), qui favorise la création d’emploi dans les régions reculées du pays pour les désenclaver de l’isolement économique.

10. reconnaître et corriger les erreurs et les égarements des traités commerciaux signés sur la base des élans fantastiques et pour des raisons plus politiques que commerciales.

Pour cela, le Maroc devrait dorénavant et réellement définir en premier les besoins propres de son économie nationale et les impératifs de son authentique développement régional avant même d’entamer des discussions avec n’importe quel partenaire commercial étranger ou investisseur étranger et même national.

L’Etat Monarchique Marocain dont les actions demeurent influencées par les partis politiques dirigeant tout en étant une institution nationale souveraine et par dessus tout élitisme de politiques conjoncturelles et donc doit prendre directement en main et devenir responsable de toute Politique Régionale de Développement Réel du Maroc et de ses potentialités régionales et nationales.

Une telle approche ne peut que transformer toute politique de régionalisation en vecteur et cluster favorisant une plus grande interdépendance économique régionale dans le cadre de la globalisation et cela à travers les échanges commerciaux et les investissements directs étrangers bases eux aussi sur une approche de la globalisation avec une politique sélective, complémentaire et de priorité nationale et non de considérer les traités commerciaux de libre-échange comme des buts a marquer et un score a étriquer pour montrer un palmarès qui a la longueur devient un fardeau budgétaire pour les masses marocaines.

Recommandations de Dr. Said El Mansour Cherkaoui pour la Maison du Maroc: 


Redéfinir les Technologies. les Modes d’Organisation, les Stratégies et les Modes d’Affaires des Entreprises pour Réussir un Développement Industriel et un Progrès Social d’ordre Technologique.

Après le House Regional Cleaning accompli par le Souverain qui avec courage royal, classe majestueuse et détermination de Leader avait prit des décisions sans équivoque pour redresser la barre du vaisseau marocain.

Dans un tel sillage, la prochaine épuration du Maroc devrait aussi se concentrer sur l’extérieur du palier de la Maison du Maroc et cela sur les plans suivants qui demeurent dans l’ensemble non exhaustif, a savoir:

1- Mieux choisir ses partenaires commerciaux extérieurs

2- mieux positionner Made in Morocco dans les choix des consommateurs internationaux;

3- Mieux sélectionner les bénéficiaires étrangers de l’attractivité sur la base du développement national intégré avec les besoins des autres régions du Maroc;

4- Se dégager progressivement de l’Offshoring Concept et Cheap Labor Label;

5- Réduire la dette publique, la dette extérieure, redresser la balance commerciale et discipliner les dépenses des administrations par une meilleure gouvernance et responsabilisation;

6- Favoriser l’Education publique de masse et réduire la pauvreté et accroître le logement social tout en rendant accessible les services de soin et les produits pharmaceutiques;

6- Promouvoir l’emploi réel et la création des entreprises porteuses de croissance locale, régionale et nationale;

7- Atténuer les raisons de la violence et de l’abus du pouvoir a tous les niveaux des relations sociales;

8- Contribuer dans une équitable reconnaissance des services rendus par les administrateurs et les fonctionnaires de l’Etat tout en accordant une dignité propre a ceux et celles qui servent dans les rangs de la sûreté nationale et la défense nationale;

9- Résolution des causes de la mendicité et de la dépravation des jeunes;

10- Renforcer les assises de l’Etat de Droit dans toutes ses expressions et ses attributions ainsi que reconnaissance des droits premiers des citoyennes et citoyens dans le partage des bienfaits sociaux et la richesse du Maroc.

Si on réussit a conditionner ces mouvements de changement dans le sens de la performance et l’efficience, nous aurons franchi un long chemin vers l’objectif de rendre le Maroc un pays égalitaire dans ses actions ou les chances sont distribuées sur la base du mérite et non de la cooptation partisane, de l’électoralisme féodalisé et du clientélisme social-corruptible.

A vos claviers pour répondre si vous estimez que le Maroc mérite un meilleur sort et une autre alternative au niveau de la politique économique que celle poursuivie par les partis politiques siégeant au gouvernement.

Dr. Said El Mansour Cherkaoui 31 – 10 – 2017

Sprout Digital: Seeds of Your Online Endeavors Success


Project Name:  Sprout Digital

6.28.2017

SAMANTHA BOUTAAM: Co-owner / Chief of Digital Strategy

MAHMOUD BOUTAAM: Co-owner – Chief Executive of Operations

Overview

Founded in 2016, Sprout Digital is driving business growth through expert digital marketing with relentless hustle. Sprout Digital partners with clients to drive business outcomes with Best-in-Class Website design, search engine optimization, lead generation, social media advertising, and all the needed inputs and insights that bring business operations in front of customers and clients.

Sprout Digital provides support to their clients with driven business intelligence and operational know-how that bring results and improve performances.

Sprout Digital Team is formed by Digital Marketing Executives, Content Producers, Web Designers, Marketing Strategist and Inbound Marketing Specialists.

Sprout Digital leverages diverse professional and technological backgrounds to help business owners and bring solutions to the challenges of building a business and lasting operations.

Specifications

Most startups like to describe their technology and solutions using very technical language, which is impressive on one hand, but not clear to most readers on the other hand. So instead, we aim to describe Sprout Digital’s offering in a way that everyone can understand.

Sprout Digital

We Are Your Unfair Advantage

We Are Sprout Digital

Put your business on the online map with tailored digital marketing services that work.

Based in Dayton, Ohio, Sprout Digital is a digital marketing company that drives business growth through best-in-class internet marketing solutions and relentless hustle. Our strong suits are in lead generationwebsite designsearch engine optimization (SEO)pay-per-click (PPC) ads, and social media marketing.


Who are the founders of Sprout Digital
SAMANTHA & MAHMOUD BOUTAAM

Sprout Digital background including how it was founded
AFTER SEVERAL YEARS IN CORPORATE AND RECRUITING, WE UNDERSTOOD HOW IMPORTANT DIGITAL STRATEGY AND SEARCH ENGINE OPTIMIZATION WAS FOR BRAND AND RECRUITMENT. WE RECOGNIZED THAT THE SAME CHALLENGES EXISTS FOR RECRUITERS AS IT DOES FOR BUSINESS OWNERS LOOKING FOR CUSTOMERS / CONSUMERS. SPROUT DIGITAL WAS FOUNDED TO HELP CONSULT BUSINESS OWNERS ON HOW TO REACH NEW HEIGHTS IN OUR TECH DRIVEN ERA.

What is the most selling product/service:
MAHMOUD BOUTAAM: DIGITAL STRATEGY CONSULTING AND SEARCH ENGINE OPTIMIZATION

What market needs are you solving?
MAHMOUD BOUTAAM: SMALL BUSINESSES WHO DO NOT OR BARELY EXIST DIGITALLY AS WELL AS STARTUPS LOOKING TO HIT THE GROUND RUNNING (VIA DIGITAL PLATFORMS). QUITE SIMPLY, WE ARE THE BILL THAT PAYS YOUR BILLS. WE DRIVE PAYING CUSTOMERS TO ANY BUSINESS AROUND THE GLOBE SO BUSINESSES OWNERS CAN DO WHAT THEY DO BEST, RUN THEIR BUSINESS.

Key customers How many customers Sprout Digital is serving and where is their location (presuming the figures are impressive)
MAHMOUD BOUTAAM: WE HAVE CLIENTS SPANNING 3 COUNTRIES, WE SPEAK 3 LANGUAGES AND HAVE A NETWORK OF OVER 10 DIGITAL CONSULTING EXPERTS

 

Key competitors to Sprout Digital (if relevant) N/A

Business model: OVER DELIVER. RESULTS. HAPPY CLIENTS. REFERRALS. REPEAT.
Number of employees:  2 co-founders.

  • Total fundraising to date N/A
  • Size of current round N/A
  • Investors in current round N/A
  • Who are the other investors in Sprout Digital N/A
  • Funding purpose N/A

10 Top Foundations of the Article:  

Your responses is your own choice of length for building the narrative on Sprout Digital.


“What problem is SPROUT DIGITAL/product/service solving?”

MAHMOUD BOUTAAM:

It’s 2017. The internet as we know it has only been around for 10 years. That means every person on this planet who is 25+ years of age remembers a time when we did not have smart phones or Google or Youtube or Facebook or Twitter or Instagram or Pinterest or Snapchat or Musically or …you get the point. If you’re under 35, you were likely lucky enough to have computer labs in High School and through college to figure out how to navigate the digital landscape. If you’re 40+, you had to adapt or ignore. Some eager people may ask their children or grandchildren to show them how to do some computer things so they can browse Facebook for pictures of their grandkids. But for most small business owners, the digital era has left their business in the dust.

Traditional marketing techniques like billboards, mailers, and restaurant menu placements just aren’t driving customers into their shops like they used to. What’s a business owner to do? While most owners are able to recognize the need for digital marketing, they just do not have the time or resources to do it themselves and with the onslaught of spammy emails they surely receive each day (ie: “I can get you ranked on the Google”) they have little desire or trust in throwing their budgeted marketing dollars at The Google. While we work with all sized businesses, Sprout Digital’s bread and butter is working to restore hometown businesses to their glory through digital strategy that delivers real results.

Give us a solid answer to that, to build a foundation for Sprout Digital story.

MAHMOUD BOUTAAM:
We are unique in that we are allowing our agency to grow organically by building a trusted brand and reputation that people are drawn to and excited about. Rather than working day in and day out to drive sales, we operate on a methodology of “build it and they will come”. We are active in our communities, we offer digital marketing seminars and frequently hold speaking engagements and live webinars to help educate people on how to market their business. Our social platforms are primarily used to offer tips and tricks totally free to encourage people to ask questions and get excited about marketing their business.

  1. Describe the CEO/founders/creative genius’ personalities to tell us the story of SPROUT DIGITAL,

MAHMOUD BOUTAAM: Samantha and Mahmoud Boutaam are a husband and wife duo, co-founders and owner operators of Sprout Digital Ltd.

Samantha was born and raised in Ohio; Mahmoud in Morocco, Africa. After meeting in college, Samantha began her career in HR as an Immigration Manager working to recruit and retain specific talent.

Mahmoud is a trilingual language expert with an extended career in Corporate & student teaching as well as Corporate training. Having seen the huge role that Search Engine Optimization and Digital Marketing played in sourcing specific human talent, the two decided to connect with two of the top digital marketing trainers in the World to learn the skills needed to help any size business grow through a plethora of online marketing and launched Sprout Digital. 

Samantha finds passion and excitement in her continual quest for helping businesses grow. She understands the challenges faced by CEO’s and Marketing Directors in planning and executing successful marketing and sales strategies which yield results. She enjoys tackling challenges and discovering hidden opportunities for clients. No surprise, you will likely find her brainstorming new marketing methods with a strong coffee in hand. 

Mahmoud is our “Yes Man”. His enthusiasm for new growth opportunities is contagious. Mahmoud takes great efforts to grow lasting partnership between Sprout Digital’s internal strategists and our client business owners and is an excellent resource for blueprinting sales strategies with our partners to increase their bottom line. Outside of the office, you will likely find him in the gym or enjoying time with his wife and their two children.

  1. Tell us the story, give us clues and hidden insights on making Sprout Digital to be what it is now,

MAHMOUD BOUTAAM: Although Sprout Digital is a marketing agency, clients will tell you that’s the last way they would describe us. Our hands on consultative approach deeply analyzes a business’s marketing strategy. We start there and we follow a design thinking strategy where we look into different facets of the business, find the pain points, determine what digital solutions to undertake bearing in mind the business marketing budget. Then, we move on to creating, building, and delivering. We reverse engineer the competitor’s strategy and develop a plan that outperforms – giving our clients an edge in their marketplace. 

For example, describes a crisis or challenge to explain how the startup adapted to problems or overcame issues.   Your responses: 

Sprout Digital is in the business of helping businesses, then share your entrepreneurial journeys with us. As entrepreneurs be generous in sharing your lessons from the trenches, helping others further their understanding of the strategies and tactics of building robust businesses.  

MAHMOUD BOUTAAM:

  • The best advice we have for building a brand and direction for your business is to think about where you want to be in 5 years. What is your financial goal?
  • What will be your day to day activities within your business? How many clients or customers or products will you have. What will your customers say about your business / brand?

Now – take this vision and put it in writing. Essentially creating a brochure that tells people about your company and what it represents (or will represent) 5 years from now. This exercise helps you and those that work for you understand what it is that they are a part of. It gets people excited and makes them feel like a part of something important. Everyone needs to have a purpose. Understanding what the purpose and direction of your business is is the first key to success.

What can readers learn from your experience at Sprout Digital.   

MAHMOUD BOUTAAM: The current state of the internet (Social media) is here to stay and it is going to be the only to continue to build a successful business in the coming years. There is no time like the present to go digital. Digital is not a fad. The internet is here to stay. 

Tell us about the startup culture in your space.   

MAHMOUD BOUTAAM: We are located in a rural area. So, our the primary mission is education-focused. We are trying to introduce internet marketing to the small business owner. That being said, we still work with global clients and handle big accounts that require a full scope of solutions from web design, social media management, and PPC campaigns.

 What is your present relationship with a venture capital or angel investors?  N/A

If yes,  then  why they invest in Sprout Digital, if not, what you need to accomplish to have them invest in your company.

Are the Founders looking to raise funds for Sprout Digital startup?   

MAHMOUD BOUTAAM: NO


What is the Next Step for Sprout Digital?

We’d like to dominate the small business space. Small business needs internet marketing to survive the next 5-10 years. We made it our mission to educate and empower these small businesses with the digital tools that will make them thrive in a business ecosystem that is getting more and more digital.


Provide one of two quotes/milestones that can enhance the image of Sprout Digital 

 MAHMOUD BOUTAAM:  “A pretty website that’s not being found online is like a luxury store in the basement of a mall”

Final Notes:

Thank you Mahmoud Boutaam for responding and contributing in making this article to be written by Said El Mansour Cherkaoui and CherkaouiJournal based on the edition and reconfiguration of the responses received from you including your voluntary release of information on Sprout Digital.

Please provide any images, slide or media material (including but not limited to video from UTube) that can be added as promotional material.

sprout-digital-logo_FINAL.png

LinkedIn: https://www.linkedin.com/company-beta/19866898/

Sprout Digital was founded in 2016 by Samantha and Mahmoud Boutaam to meet the growing demand for digital marketing services. Since then, the duo, with their extensive experience and wealth of knowledge, have been solving communication quandaries with modern solutions and working to propel businesses of all sizes forward.

When was Sprout Digital founded? 2016

Headquarters location and any other offices
HEADQUARTERS IN NEW BREMEN, OH SERVING GREATER DAYTON AREA, NATIONWIDE AND INTERNATIONALLY

IM: mahmoud@sprout-digital.com (Google Talk)

Connected

Add Mahmoud Boutaam on WeChatmahmoud boutaam


Agreement between Sprout Digital and Said E. Cherkaoui / Morocco Digitall

By accepting the writing of this article on Sprout Digital by Said El Mansour Cherkaoui or/and in the form of other media presentations that can be extracted from this publication, you also recognize that this project hereunder including, but not limited to, a written article, press release and corresponding narrative elaborated by Morocco Digitall and Said El Mansour Cherkaoui or/and their transfer in any other forms or translation in other languages, entirely or partially in other media and/or publications are solely the property of Dr. Said El Mansour Cherkaoui and Morocco Digitall. Any future use should receive first the approbation and the authorization of Dr. Said El Mansour Cherkaoui and Morocco Digitall.  

For this reason, this article will be written by Said El Mansour Cherkaoui and published by Morocco Digitall as Free of charge for its first publication.  Any demand for republication should be made on arranged and negotiated as well as mutually beneficial terms agreed between the Owner (s) of Sprout Digital and Dr. Said El Mansour Cherkaoui and Morocco Digitall.

Sprout Digital is authorized to publish a link on their webpage for matter of advertising and public relation that mention the link of https://www.moroccodigitall.com as the source.  Further utilisation should be agreed upon prior to the use, please contact cherkaouijournal@gmail.com for further precisions and related indications.

Additional presentations on the use of this proprietary publishing works can be found at:

Copyright © Said El Mansour Cherkaoui All rights reserved.  and Said El Mansour Cherkaoui by Dr. Said El Mansour Cherkaoui is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Based on a work at Copyright © Said El Mansour Cherkaoui All rights reserved. 

Mahmoud Boutaam Said El Mansour Cherkaoui

Sprout Digital and Said El Mansour Cherkaoui All rights reserved.

Signed: Mahmoud BOUTAAM Said E Cherkaoui – Date: 8-01-17 Date: 8/1/17 Based on the original answers received from Mahmoud Boutaam

Building the Capacity of African Moroccan Diaspora in the United States

Since my early studies at Institut des Etudes Politiques of the Grenoble University, the development and integration of Africa were at the forefront of my studies and topics of my presentations in seminaries and essay papers. It was natural that I continue to work and increase the awareness about Africa and its need of establishing new kinds of relations with other countries other than the past metropolitan and colonialists.

The African Diaspora is and can be considered as the link and the builder of external relation between the country of their residency and their country of origin.

What are diasporas?

The countries with the most immigrants to the U.S. are: Nigeria, Egypt, Ethiopia, Ghana, South Africa, Somalia, Eritrea, Kenya. 

A diaspora can be defined as a group of persons who have migrated and their descendants who maintain a connection to their homeland. The U.S. State Department defines diasporas as migrant groups that share the following features: dispersion, whether voluntary or involuntary, across socio-cultural boundaries and at least one political border; a collective memory and myth about the homeland; a commitment to keeping the homeland alive through symbolic and direct action; the presence of the issue of return, although not necessarily a commitment to do so; and a consciousness and associated identity, expressed in diaspora community media, the creation of diaspora associations or organizations, and online participation.

AFRICAN DIASPORA

The African Union defines its diaspora as “consisting of people of African origin living outside the continent, irrespective of their citizenship and nationality and who are willing to contribute to the development of the continent and the building of the African Union.”

More than 90 percent of migrants from north Africa go to countries outside the region, especially to Western Europe. But almost two-thirds of migrants from sub-Saharan Africa leave for other countries in the region. Most of those remain within the subregion (for example, west Africans remain primarily within west Africa).

Remittances by the African Diaspora 

African migrants sent at least $40 billion in remittances to African countries in 2010. The true size of remittance flows, including unrecorded flows, is believed to be significantly larger. Remittances are the most tangible link between migration and development. Remittances are a large source of funding in many African countries: in Lesotho, they are close to 30 percent of GDP; in Cape Verde, Senegal, and Togo, more than 10 percent of GDP. In Egypt, remittances are larger than the revenue from the Suez Canal, and in Morocco they exceed tourism revenue.

In sub-Saharan Africa, remittances have been more stable than foreign direct investment, private debt, and equity flows. Nevertheless, even small fluctuations in remittance inflows can pose macroeconomic challenges to recipient countries, especially those with large inflows.

Remittances play an important role in reducing the incidence and severity of poverty. They help households diversify their sources of income while providing a much needed source of savings and capital for investment. Remittances are also associated with increased household investments in education, entrepreneurship, and health—all of which have a high social return in most circumstances. That said, the evidence of the impact of remittances on economic growth is mixed.

Picture Said El Mansour Cherkaoui

Nigeria receives the most remittances from the diaspora. Nigeria is the most populous country in Africa and has a large diaspora population. In 2020, Nigeria received $17.2 billion in remittances. 

Below are the 10 highest recipients of remittance inflows in Africa, according to available figures for 2021.

READ: These 6 countries have the highest unemployment rates in Africa

  1. Nigeria: $19.2 billion
  2. Ghana: $4.5 billion
  3. Kenya: $3.7 billion
  4. Senegal: $2.7 billion
  5. Zimbabwe: $2.0 billion
  6. Democratic Republic of Congo: $1.3 billion
  7. Uganda: $1.1 billion
  8. Mali: $1.1 billion
  9. South Africa: $900 million
  10. Togo: $700 million – Source: June 3, 2022 1:14 PM

Other African countries that receive significant remittances include: Ghana, Kenya, Senegal, Egypt, Morocco. 

In 2021, each of these countries received at least $10 billion in remittances. Egypt, Nigeria, and Morocco accounted for 65% of all remittances to Africa in 2022. 

Remittances are money sent by people living in a foreign country to their home country.  The African diaspora, which includes Sub-Saharan African immigrants living in the U.S., Europe, and other countries, send significant amounts of remittances to the continent. In 2021, the African diaspora sent $45 billion in remittances to Africa, which was a 6.2% increase from 2020.  In 2022, the World Bank estimated that remittances to Africa totaled nearly $100.1 billion, which is approximately twice the level of overseas development assistance. 

The African diaspora is the largest financier of Africa in the form of gifts or grants. Remittances are an important contributor to the growth and development of a country. In 2022, remittances accounted for 3.4% of Africa’s total GDP. 

The World Bank estimates that Africans in the diaspora save about $53 billion per year. In 2020, recorded remittances reached over $80 billion sent to and within Africa. 

In 2023, growth in remittances is expected to ease to 1.3%. Sending $200 to the region cost on average 8% in the fourth quarter of 2022, up from 7.8% a year ago.

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