By Lili Pateman

 

WASHINGTON, 27 Jan. - (ANA) - A 1% levy on money sent from the US, combined with the closure of USAID, risks pushing millions into poverty and driving financial flows underground.

 

In 2024, Africa received approximately $104.8 billion (£82.5bn) from its global diaspora. It is this often vital windfall that the US administration has decided to target. 

 

Since the ‘One Big Beautiful Bill’ came into effect at the start of this year, all money transfers from the United States to foreign countries have been hit with a 1% tax.  - (ANA) -

 

AB/ANA/27 January 2026 - - -