Keep Somalia's remittance lifeline open
- Author: CCTV Africa
- Copyright: CCTV Africa
- Date: 17 September 2013
Each year, Somali migrants around the world send approximately $1.3 billion home to family and friends in Somalia. These flows represent a significant share of Somalia’s economy and help to reduce Somalia’s reliance on assistance from foreign governments and international organizations.
Continued support from the Somali diaspora is essential for Somalia to successfully emerge from its protracted humanitarian emergency and political crisis and build the foundations for its long-term development.
Barclay's Bank (UK) is planning to several of the major money transfer operators accounts at the end of September 2013. Our Acting Country Director in Somalia, Ed Pomfret, explains why Barclay's must keep their policy review period for such acounts, open for a full year. The 'Somalia lifeline' must be kept open.
Video from China News TV Africa.
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