Appreciate Africa through African art, food, biography, spirituality, proverb quotes, folklore, and African living history.
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Did you know?
1. No African country names begin with the letters F, H, I, J, O, P, Q, V, W, X, or Y.
2. Africa is surrounded by water but by definition Africa is not an island because Africa is a continent.
3. African tech startups raise billions of dollars annually, seven African start-ups were included in the World Economic Forum 2021 cohort of 100 Technology Pioneers.
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African Culture is World Heritage
Appreciate Africa through African art, food, proverb sayings, folklore, biographies, spirituality and African living history.
Hidden Billion Dollar Fees In Global Economics | Remittances, Sending Money Home
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Money transfers
Sending money to Africa is expensive. Remittances are the lifeline to millions of families in Africa.
Money Transfers to Africa, the Hidden Billion Dollar Fees In Global Economics
Explore and Understand Africa Through Her Food and Culture
Transferring and receiving money is of huge importance to the African diaspora. What is a remittance? A remittance is the funds an expatriate sends to their country of origin via wire, mail, or online transfer.
Money Transfer
Operators (MTOs)
Western Union started offering money transfer
services to Africa in 1995 since money transfers by banks were rare as most
European banks did not accept transfers to Africa and most prospective
recipients in Africa did not have bank accounts. Therefore, rendering financial
assistance to their families and friends at home was a major problem for
Africans living and working abroad.
Leading global money transfer providers to Africa
operating in the country include Dahabshiil, Western Union, MoneyGram, RIA, Banks and WorldRemit
along with those offering remittance based on wireless and cashless transfers.
Remittance Streams
of Money and Fees
In 2015, worldwide remittance flows are estimated
to have exceeded $601 billion. Of that amount, developing countries are
estimated to receive about $441 billion, nearly three times the amount of
official development assistance. The true size of remittances, including
unrecorded flows through formal and informal channels, is believed to be
significantly larger. The bulk of the remittances were to North and West Africa,
regions with the largest number of migrants abroad and which alone received
some 80percent
of the total funds from the diaspora.
The resilience of owning these money transfer
companies attracts the interest of the public authorities and the private
sector in Africa. Remittances from migrants are an important source of funding
for the economies of many African countries. In these countries, large segments
of the population benefit from these remittance. Remittances are an important
source of foreign exchange, surpassing earnings from major exports.
Top remittance sending country is the United States at 56.3 percent of the world market in 2015. The top three African countries money is sent to from the USA are
Nigeria 20.8 billion
Egypt 20.4 billion
Morocco 6.7 billion
Top five African countries that remittance is a
major percentage of the Gross Domestic Product (GDP)
Liberia 24.6
Comoros 20.2
The Gambia 20
Senegal 10.3
Cabo Verde 10.2
Making money off
African immigrants hard earned money; money transfer companies.
The two largest worldwide remittance-recipient
countries are Mexico and Egypt with the Global Average cost for sending
remittances at 7.45 percent. For example, if sending $100 home to Liberia, it
would cost around $7.45; the person receiving the money would also be charged a
service fee around $7.45. The original $100 has $14.90 deducted just for fees.
South Africa remains the costliest G20 country to
send remittances from 17 - 20 percent. Africa, remittances of African migrants
to their countries of origin exceeded US $60 billion in 2012, an amount exceeding
the US $56 billion in official development assistance to the continent, and the
US $50 billion in foreign direct investment. Reducing the costs of remittances,
banning exclusive contracts between Money Transfer Operators (MTOs) and banks,
that is the issue to reducing fees.
Did you know?
Nigerian expats send the largest amount of remittances home from the United States, nearly 5.7 billion dollars a year. The charges from money transfer companies to send this money is between 399 million to a little over one billion dollars in fees alone.
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Africa is surrounded by water but is not an island, here are a few African Island facts.
Madagascar is the 4th large island in the world and is located in the Indian Ocean supporting a unique biology, about 90% of its plants and animals are found nowhere else on earth.
Composed of 155 islands, Seychelles is Africa's smallest country. By far the largest island is Mahe, home to about 90% of the population and the site of its capital city of Victoria.
Cabo Verde has a strategic location 310 miles or 500 km from the west coast of Africa near major north-south sea routes; important communications station; important sea and air refueling site.
Africa is surrounded by water but by definition Africa is not an island because Africa is a continent. Continents can not be considered islands because of their size and also by historic definition since many people who study geography define islands and continents as two different things.
Gold Olympic Medals Africa Kenya, South Africa, Ethiopia, Egypt, Morocco, Algeria, Zimbabwe, Tunisia, Cameroon, and Nigeria are the top ten African countries with the most Gold Olympic medals. 10 African countries with the most Gold Olympic medals How much do you know about Africa's history at the Summer Olympics Games? The 2016 summer Olympic Games in Rio officially known as the Games of the XXXI Olympiad has been a part of Africa’s history since 1904. Also in Rio 2016, the first-ever Team Refugees will stand before the world and prove that you can succeed no matter where you're from. Top ten African countries with the most Gold Olympic medals African Country Gold Silver Bronze Total Kenya 24 33 29 86 South Africa 23 26 27
Beauty Does Not Pay Bills African Folklore Story In the popular African folklore story, Beauty Does Not Pay Bills a beautiful Zulu woman learns the hard way you cannot rely on how you look to pay the bills. Beauty Doesn't Pay Bills African Folklore Story As the ancestors say, a young Zulu woman was well known and prized throughout the land for her unique beauty. One day, she thought to herself since she is so beautiful she would only have to show up at the local market, and the people would bring her all she needed to survive. Therefore, when she saw the women go to market, carrying loads of vegetables, beans, bananas, and cocoyam, she put on her prettiest clothes adorned herself with costly beads and bracelets and followed the women to market. When she arrived at the market, people were busy bartering their vegetables for dried fish, salt, pottery, and other supplies. The beautiful woman stood there in the busy market empty-handed, and had nothi
Chadian Steamed Honey Cassava Buns African Recipes by African Gourmet Chadian steamed honey cassava bun recipe has as many variations as to the fillings and the preparations. Our recipe offers a tasty filling of sweet honey to compliment the delicate soft steamed buns. Prep time: 10 min Cook time: 25 min Total time: 35 min Ingredients 2 cups cassava flour ½ cup water ¼ cup honey ½ teaspoon salt Honey for drizzling Directions Mix together cassava flour, water and salt. Knead until dough is formed then divide into 10 equal balls. Using your thumb make a deep indication in the center of each ball, fill with honey and smooth the dough back over the filling. Place squares of parchment paper under each ball so the dough does not stick to the steamer, steam in a bamboo steamer for 25 minutes. Drizzle with honey and serve warm as a snack, appetizer or with meals. [Read: Largest Ethnic Groups Of Chad Africa .] Chad Food Recipes
African proverbs of wisdom and love of mothers, may the blessings of motherly love flow like a river through your heart forever more. Every mother leaves her footprints African-Proverb A mother is like a kernel, crushed by problems but strong enough to overcome them African-Proverb The strength of a mother is in the ears and on the lips. Mali-Proverb Who built the drum knows best what is inside Burundi-Proverb Alone a child runs fast, with a mother slow, but together they go far African-Proverb If you educate the mother, you have educated the child Burundi-Proverb The eagle does not hunt flies African-Proverb A fine cage will not feed the bird African-Proverb What is learned in the cradle lasts until the grave African-Proverb We worry about what a child will become tomorrow, yet we forget that he is someone today.
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Being African in America I have grown up learning about different ethnic cultures. My father and mother are historians of African culture and history and their influence expanded my activities to several best-selling cookbooks, magazine columns, self-branded products, and a popular African culture and food blog.
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