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How much money flows from South Africa to SADC countries? Here’s the breakdown | The Citizen | SA News

South Africa had 55 registered remittance service providers as of 2024, with the Sarb currently considering expanding legislative definitions.

Migrants from the Southern African Development Community (SADC) have been sending billions back to their countries of origin.

The South African Reserve Bank (Sarb) confirmed over R100 billion had been transferred out of South Africa using authorised remittance providers since 2016, but is currently taking public comment on legislation to regulate alternative remittance providers.

The facilitation of remittances – cross-border payments made by foreign nationals – is a G20 goal championed by the United Nations’ Sustainable…

State-Owned Media: The South African Broadcasting Corporation (SABC) is the
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