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The history of remittance in black communities

Remittance is more than the transfer of money by individuals working abroad back to their home countries or communities, it is a connection to home, a loving gesture showing care and concern for their wellbeing. It has also played a significant role in the financial and social fabric of Black communities worldwide. 

Remittance is deeply rooted in black history, reflecting the resilience and determination of individuals separated by slavery, colonialism, and migration. 

For Black history month, let's explore the fascinating history of remittance in Black communities, highlighting its economic, cultural, and social impact.

international remittance, global money transactions, Currency exchange, globe and cash

Historical Context

The origins of remittance in Black communities can be traced back to the era of slavery and colonialism. During this time, millions of Africans were forcibly brought to other regions as slaves or indentured laborers. They often sent money or goods back to their families and communities, providing vital support and maintaining connections despite the physical separation enforced by slavery.

Following the abolition of slavery and the end of colonial rule, many Black individuals and their descendants continued to migrate in search of better economic opportunities. Remittances have continued to play a crucial role in supporting families left behind and helping to build stronger communities.

Diaspora Communities

Then came the period of diaspora communities, where people of African descent settled in different parts of the world, further solidifying the practice of remittance. These communities developed strong networks and support systems, with individuals working abroad regularly sending money back home to support their families, invest in businesses, and contribute to community development projects.

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Economic Development

Remittances have been instrumental in driving economic development in many Black communities especially in Africa. The funds received through remittances have been used for various purposes, such as education, healthcare, housing, entrepreneurship, and infrastructure development which has helped to lift families out of poverty, create employment opportunities, and stimulate local economies.

And this goes beyond just giving back to having a profound cultural and social impact. Most of the communities abroad also help to maintain cultural traditions, support community events and celebrations, and preserve ancestral ties. More often than not, remittance recipients often use the funds to invest in education and provide better opportunities for future generations, thereby contributing to social mobility and upward mobility for people in their communities back home. 

asking Young African millennial using smartphone on the go, checks his bank account online

Modern Trends

With advancements in technology and the rise of digital platforms, the process of remittance has become more accessible, efficient, and cost-effective. Online money transfer services and mobile banking have made it easier for individuals to send money to their home countries or communities, further strengthening their cultures and connections.

Today, remittances continue to play a vital role in many Black communities, providing financial stability, supporting economic development, and fostering connections between individuals living abroad and their home communities. The practice of remittance has become an integral part of the shared history, resilience, and economic empowerment of Black communities worldwide.

As we celebrate Black History Month, let us acknowledge and honor the contributions of those who have sent happiness and love back home, paving the way for stronger, more empowered communities.

It's important to note that while remittances have positive impacts, they also reflect the structural inequalities and economic disparities that drive migration. Addressing these issues and creating more equitable opportunities for individuals in their home countries are essential for sustainable development.

Happy Black History Month!

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