President Macky Sall's candidacy for the office of UN Secretary-General places diaspora remittances among its priorities. In many countries, the money that migrant workers send to their families exceeds public aid and foreign investment combined.
More than aid, for many countries. Remittances to low- and middle-income countries reached about US$ 685 billion in 2024, according to the World Bank. That money goes straight to families, pays for school, rent and care, and holds up better than aid when the economy turns.
A transfer cost that is too high. Sending US$ 100 costs nearly US$ 6 in fees on average, double the 3 % target the states set themselves. Each point cut from those fees leaves billions more in the hands of families, without a single donor having to give more.
Recognising and securing these flows. Cheaper and better-regulated sending channels make these transfers more useful still. Counting them in development strategies means recognising an effort that comes from households before it comes from states.
What the Secretariat can carry. The Secretary-General does not set banking fees. He can carry the goal of cutting their cost and support more open sending channels, recalling that this money, earned by families, must not be lost to intermediaries' commissions.
Experience in multilateral negotiation. Twelve years as head of state and the chairmanship of the African Union in 2022 underpin these commitments. That experience explains why the vision statement filed with the United Nations frames its proposals as obligations: peace, security and development conceived together; a renewed multilateralism; stronger governance of the Organization.
Africa at its heart, the world in its sights.
The World Bank's 2024 remittances data and Sustainable Development Goal target 10.c are public. Read all public positions at www.mackysall.net