Over the last decade, remittance flows from diaspora communities to their countries of origin have been steadily increasing. With governmentRead more
In recent years, Somali money transfer operators (MTOs), which represent the only legitimate mechanism through which the Somali diaspora can send money to their loved ones in Somalia, have struggled to maintain bank accounts. Remittances play a vital role in supporting vulnerable Somali families, with 41 percent of urban-dwelling Somalis receiving remittances. They spend the vast majority of the cash to meet basic needs like food, shelter, health care, and education.Read more
In the years following the attacks of 11 September 2001, it is not surprising that Western security forces and authorities clamped down hard on the money transfer industry. Fearful that some remittances being sent to countries in eastern Africa, the Middle East and South Asia could be being used to fund terrorist activities, a number of smaller money transfer companies were shut down.Read more
The Somali government has said it intends to tap into its Diaspora to invest in the war-ravaged country.
Speaking to the Somali Diaspora community in Kampala yesterday, Mr Abulkadir Kamtir, the director in the Office of Diaspora Affairs, said their investments will be protected.
Somalis from all over the UK met the Secretary of State for International Development to express their need to re-enable remittance payments into their home country. Secretary of State for International Development Justine Greening met members of the UK’s Somali community to discuss Britain’s aid and development programmes.Read more