Sharda Naidoo reports on remittances:
Remittance flows into Africa have grown exponentially over the past two years, more than $11-billion in 2005 via formal and informal channels.World Bank researchers further believe that remittances have helped reduce poverty and that they offer a lifeline to struggling economies. They have also helped to stabilise irregular incomes and build human and social capital. In Uganda, remittances have cut the share of poor people by 11% and in Ghana by 5%. In Lesotho, remittances now account for more than one-third of gross domestic product (GDP), and more than 50% in Ghana.
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