Untapped potential: ECA’s Dosso weighs-in on remittances at Ivorian Diaspora Forum

Abstract

Remittances from the diaspora are an important source of income for African economies, which could be making a huge impact on the ground if exorbitant charges were slashed, says Economic Commission for Africa’s (ECA) Acting Director for the SubRegional Office for West Africa, Bakary Dosso. Speaking at the 3rd edition of the Ivory Coast’s diaspora forum on the theme; “Talents and Investors: The Meeting for Employment and Opportunities” in Abidjan, Côte d'Ivoire, Mr. Dosso said remittances from the Africa diaspora were growing every year but continued to be eroded by high charges. The Acting Director also spoke about diaspora investments in West Africa, which he said were on the rise. These are being done through various channels like diaspora business forums and by returning migrants. The Minister of African Integration and Ivorians Abroad, Ally Coulibaly stressed that the forum would serve as a framework to see how Côte d'Ivoire could maximize the 180 billion CFA francs it receives per year in transfers of funds from the diaspora. The forum sought to agree on an institutional framework for the management of Ivorians living abroad, validating the main lines of future national policy on management of Ivorians living abroad, mobilize Ivorians abroad around issues of development and determine the terms and conditions to facilitate their return.