Africans remittances outweigh Western aid
Analysis of cash flows by Hong Kong-based Ghanaian academic Adams Bodomo shows that Africans living outside the continent send more money home to their families than is sent by traditional Western aid donors in what is called Official Development Assistance.
Bodomo concentrated on African money-flows but came to a similar conclusion for all developing countries. "Worldwide remittances from people who hail from developing countries totalled $350bn," he said; "far exceeding ODA at $130bn."
Mr Bodomo believes "family aid" is also more efficient, and that diaspora practices hold lessons for the wider aid industry.
"It's more effective because it's better informed. An African family member abroad knows what is needed, whether it's for school fees, to build a structure or to grow a business."
He added, "It's also clear that a lot of government-to-government aid is misappropriated. So the ODA donors should learn from these diaspora guys by targeting support to those who need it most - families and small businesses."
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