10 African Nations Who Depends on Money Abroad and Not Exports

In many African countries, the money sent home by citizens living abroad has become more important than what these nations earn from selling goods overseas. 

New data shows that in 2024, remittances from the diaspora were larger than export revenues in at least ten African countries, reshaping how these economies survive.

Money from Abroad Beating Trade

Africa received more than $95 billion in remittances in 2024, according to figures from RemitScope and the International Trade Centre (ITC). For some nations, this money has become the backbone of their economies, helping families cover food, education, and healthcare.

In places like The Gambia, Comoros, Somalia, Egypt, and Cabo Verde, diaspora remittances were not just higher than exports—they were several times greater.

Examples from Across the Continent

• The Gambia: Citizens abroad sent home $575.8 million, compared to just $15.9 million earned from groundnut exports. That is more than thirty-six times greater.
  
• Comoros: The country’s famous clove exports brought in $21.4 million, while remittances reached $282.4 million, over thirteen times more.
  
• Somalia: Exports of livestock such as sheep and goats earned $269.9 million, but remittances stood at $1.73 billion—six times higher.
  
• Egypt: Petroleum products brought in $3.54 billion, yet remittances soared to $22.66 billion.
  
• Cabo Verde: Fish exports fetched $57.6 million, while remittances totalled $324 million, over five times greater.
  

Other countries like Rwanda, Kenya, Togo, and Zimbabwe also saw remittances outweigh their main exports, showing how widespread the trend has become.

Why remittances matter and challenges with sending money

Remittances play a stabilising role in African economies. Unlike export earnings, which can fall when global prices drop, remittances often stay steady and even rise in times of crisis. 

They help families cope with inflation and provide money for food, rent, and education. In some cases, they also support small businesses and local investments.

For millions of households, this money is not just extra, it is survival.

Even though remittances are vital, sending money to Africa is still expensive and sometimes complicated. Different countries have different rules, and transfer operators often charge high fees. 

Because of this, many people prefer to use informal channels, which may be cheaper but are risky.

Nigeria, with its large population abroad, consistently receives the highest remittance inflows, followed by Ghana, Kenya, and Senegal. South Africa, on the other hand, is the largest sender of remittances to other African nations.

What governments can do

Experts say policymakers should make remittance systems easier and cheaper. By lowering costs, improving digital transfer options, and creating safe ways for the diaspora to invest in housing, infrastructure, and entrepreneurship, governments can turn these inflows into long-term growth opportunities.