Remittances

Global remittance flows total nearly $100 billion annually, which is about twice as large as official development assistance. Various activities to increase and enhance the effectiveness of remittances have resulted dramatic increase in remittances flows from the Diaspora. In 2006 according to the World Bank, Remittances to Tanzania were US Dollars 100 Million. This figure excludes remittances through informal channels.

“Remittances flowing into developing countries are attracting increasing attention because of their rising volume and their impact on recipient countries. In 2005, they totaled $188 billion- twice the amount of official assistance developing countries received. Most of the reported flows go to regions other than sub-Saharan Africa (SSA), but SSA has still been part of the overall rising global trend. Between 2000 and 2005, remittances to the region increased by more than 55%, to nearly $7billion, whereas they increased for developing countries as a group by 81 percent.”. Source: Making Remittances Work for Africa by International Monetary Fund (IMF) June 2007

Engaging Skills of the Diaspora in Tanzania

The knowledge and skills of the Diaspora is an additional source of engagement for countries to tap into in building the capacity and capabilities of organisations and ultimately the country. The event is aimed at galvanising the Tanzanian Diaspora of all generations in harnessing their skills, knowledge and investment in the continued economic development of Tanzania.

AfricaRecruit survey of the Diaspora in 2006 indicated that over half left Africa for career professional reasons with a least over 70% of the respondents indicating that they had plans to return back home at some point in time and will like to explore how they can use their knowledge and skills in their country of origin development. Creating an environment to engage directly with potential employers will enable the Diaspora to make informed decisions.




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