Interesting piece of research:
In 2010 - the most recent year for which meaningful comparisons can be made, according to Mr Bodomo - the African diaspora remitted $51.8bn (£34bn) to the continent.
In the same year, according to World Bank figures, ODA to Africa was $43bn (£28bn)...
"About 12% of diaspora money sent home through formal financial channels is swallowed up by bank fees. Governments should find ways to reduce this so more funds get to people who need them."
A perpetual problem working with NGOs on the continent. I recall the frustration of trying to work out how to send a £10 donation to a local NGO in East Africa when it would cost a further £30 in bank charges. In this day and age, it would help if PayPal truly was global.
If you are transferring large sums, check out FIRMA Exchange.