Ethiopian Diaspora Council Vows to Enhance Remittance, Discourage Illegal Money Transfer

Addis Ababa  October 14/2021 /ENA/ Members of the Council for Ethiopian Diaspora in Action said they are working to engage the diaspora community in the development of the country by enhancing remittance.
Members of the council told ENA that Ethiopians across the globe have been providing support for their country in various ways, including in remittances.   

The nation has, for instance, secured over 2.3 billion USD in 8 months of the concluded Ethiopian fiscal year alone, according to the Ethiopian Diaspora Agency.  

The plan for the year was to obtain USD 4 billion in remittance.

The members stated that though increasing the amount of money sent in remittance from the Ethiopian Diaspora is very low when the number of Ethiopians residing across the globe is taken into consideration.     

One of the council members, Befikadu Terefe said the diaspora is helping Ethiopia in various ways, including in the form of remittance, to get the country out of its current predicament.   

Hence, efforts are being undertaken by the council members to enhance remittance by promoting its benefits to national economic development.  

"Much needs to be done to ensure that the current government structure works closely with the diaspora. We do remittances and we can also engage in tourism and investment. The Ethiopian Diaspora abroad is capable of managing the country's economy and not reluctant to help the country financially and intellectually,” he stressed.

Alebachew Desalegn, executive committee member of the council, said remittances are growing as Ethiopians are sending foreign currency through the National Bank and exposing foreign exchange brokers.

“The diaspora community around the world must actively protect Ethiopia in order to sustain this effort. When enemies are set out to weaken Ethiopia in this way, the diaspora has to become responsible and send money legally through the National Bank, not through illegal channels. We recommend and encourage this.”

As the Council for Ethiopian Diaspora in Action, "we are working hard on this issue because Ethiopia's sovereignty is based on the economy. We will fulfill our national duty by preventing the wastage of Ethiopia's foreign exchange and helping the growth of its economy."

Ethiopian News Agency