Remittances from Mozambican immigrants in South Africa exceed US$285 million in 2006

3 May 2007

Maputo, Mozambique, 3 May – Mozambicans residing in South Africa sent over US$285 million back to their home country in 2006, and were the immigrants in Southern Africa to send the greatest amount of remittances home, according to a survey.

The survey, carried out by South African consulting company Genesis Analytics found that, in total, emigrants from the Southern Africa Development Community (SADC) sent over US$857 million to their countries.

After Mozambique, emigrants from Lesotho were those that sent most money to their families in their home country, a total of around US$242 million.

Emigrants from Swaziland, with US$61 million, Botswana (US$19 million) and Malawi (US$8 million), also sent significant remittances to their countries of origin, said Genesis Analytics.

Cash remittances through “informal channels,” such as taxis, friends and family, are a model used by many Southern African emigrants, due to “fraudulent reputation” of the postal services of Southern African countries, the survey noted.

Researcher Sarah Truen noted that SADC remittances had stimulated incentives for regional development. (macauhub)