Remittances are money sent home by migrant or foreign workers back to their home countries or countries of origin.

G8 (L’Aquila Summit, 2009) and G20 (Cannes Summit, 2011) endorsed a pledge to achieve a reduction of the global average costs  of transferring remittances from 10% to 5% in 5 years (5 x 5 objective).

Average transfer costs to Africa are currently 12% for sending £120.00 home, which is almost double the global average.

Reducing this to 5% would save poor Africa $1,8billion.

This $1,8billion can be spent on health, education and lift poor families out of poverty.

Sign here to hold G8 and G20 to their 5 x 5 objective.