The cost to send remittances to Africa are often higher than other regions of the world.

Africans in the Diaspora worldwide sent home to their relatives nearly $60 billion in remittances in 2012. The Africa-America Institute’s next Speaker Series panel discussion will explore the role remittances can play in bolstering economic growth and prosperity on the African continent.

The panel discussion entitled “Can Remittances from the African Diaspora Promote Economic Growth in Africa?” will be held on June 5 from 6:30-8:30pm in New York City. Door opens at 6:00pm.

Panelists from the private and public sectors will offer insight into how to maximize and sustain the economic development potential of remittances in Africa, and will grapple with whether Diaspora contributions can be harnessed for sustainable development.

The World Bank cited that Africans in the Diaspora pay more to send money to their home countries than other migrant groups worldwide. The panel discussion will weigh in on what African governments and private organizations can do to lower the cost of money transfers and reduce regulatory impediments to increase competition, as well as innovations in mobile money transfers.

For more information, visit the Remittances panel discussion event page