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According to the record, despite the devastating impact of the COVID-19 pandemic in 2020, remittance to Ghana increased by 5% to US$3.6 billion last year.
The World Bank document stated that apart from Nigeria which saw a significant decline in remittances, foreign inflows to the continent shot up by 2.3%.
Despite the decline, Africa’s populous country was still the number one recipient of remittance. Nigeria received 17.2bn dollars as remittances.
Ghana came second with 3.6bn dollars and Kenya third with 3.1bn dollars.
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“Remittance flows to the region were estimated to have declined by 12.5% in 2020. The decline was almost entirely due to a 27.7% decline in remittance flows to Nigeria, which alone accounted for over 40% of remittance flows to the region.”
“Excluding Nigeria, remittance flows to Sub-Saharan African increased by 2.3 percent, demonstrating resilience at a time of crisis. Indeed, strong remittance growth was reported in Zambia (37%), Mozambique (16%), Kenya (9%), and Ghana (5%),” the report added.
Top remittance recipients in Sub-Saharan Africa in 2020 (US$)
Nigeria 17.2bn
Ghana 3.6bn
Kenya 3.1bn
Senegal 2.6bn
DR Congo 1.9bn
Somalia 1.7bn
South Sudan 1.2bn
Zimbabwe 1.2bn
Uganda 1.1bn
Mali 1.0bn