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Chic African Culture Africa Factbook
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. The Republic of the Congo is one of the most urbanized countries in Africa.
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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.
Instruction in youth is like engraving in stone Africa Youth Instruction in youth is like engraving in stone African proverb teaches love, security and recognition should be at the heart of family life. Teaching Lesson African Proverb Explore and Understand Africa Through Her Food and Culture 7-29-2016 Children need leading in the right direction. When one hits you with a stone, you do not hit others with a piece of cotton. It is easy to recognize when a child needs food when they are hungry and warm clothes when they are cold. Yet, a child’s mental and emotional needs may not be as obvious. Children need leading in the right direction. When children grow up without love they look for love and acceptance wherever they can find it because they never experienced love in a healthy way. Abuse can disrupt a child's emotional development. Abuse can derail a child's emotional development More teaching lesson African saying
How to make the popular African recipes Ugali and Fufu and what is the difference. Ugali is a starch dish in Kenya and Tanzania made of fine cornmeal cooked in boiling water into a soft dough. Fufu is a thick, dough-like West African food made by boiling then pounding a starchy vegetable such as yam, plantain, or cassava or a mixture of starchy vegetables. The main difference between fufu and ugali is fufu is boiled first then pounded while ugali is simply boiled. Ugali recipe. Easy Ugali Recipe Prep time 5 minutes Cook time 30 minutes Total time 30 minutes Ingredients 4 cups finely ground cornmeal 8 cups water Directions Heat water to boiling in a saucepan. Slowly pour cornmeal into boiling water stirring continuously. Add more cornmeal if necessary until it is thick as soft bread dough. Serve immediately with vegetables, stew, or any dish you would use a spoon with to soak up the sauce, ugali is purposely bland tasting on its own. What is the difference between ugali and
The story of Sara Saartjie Baartman large butt, black female sexuality and body shapes is still one of empowerment vs exploitation entertainment. Sarah Baartman was exhibited in human zoo's naked or scantily dressed throughout Britain, Paris, Ireland, and Belgium from 1810 to 1815 in cages alongside animals, in public places and rich clients’ private homes. She was pinched, poked made fun of, studied, sexualized, and ridiculed as part of exotic exhibitions in Europe. The Hottentot Venus, Sarah Baartman was a South African Khoisan tribe woman from the Kalahari famous for the biggest butt the world has ever seen. Sarah Baartman became world famous as the most exotic of the four Hottentot Venuses paraded around Eroupe as well as a landmark court case. Life, death and torture of African Hottentot Venus Sarah Baartman. Treated inhumanly, the short life of the Hottentot Venus Sarah Baartman was one to be displayed and exhibited naked or scantily dressed at 225 Piccadilly in a cage
African cultures express, encourage, and communicate energy
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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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