The Malian government has announced that remittances from its diaspora reached nearly 700 billion CFA francs (approximately $1.15 billion) in 2023, representing 5% of the country’s GDP.
The figures were revealed during the International Forum of the Malian Diaspora, which opened in Bamako on July 17 under the chairmanship of Prime Minister General Abdoulaye Maïga.
Gathering delegates from 77 countries, the three-day forum is being held under the theme “The Issues and Challenges for a Diaspora at the Heart of National Economic Development.”
The event highlights the critical economic role of Malians abroad, whose contributions sustain household consumption, social spending, and collective projects in their regions of origin.
According to data from the Ministry of Malians Living Abroad, the International Organization for Migration (IOM), and the Rabat Process, Mali’s diaspora is estimated at between four and six million people.
More than half live in West African nations such as Côte d’Ivoire, Senegal, Mauritania, and Niger, while significant communities are based in France, Spain, Italy, and North America. This population encompasses migrant workers, entrepreneurs, dual nationals, and skilled professionals.
In his address, Prime Minister Maïga underscored the need to channel these funds into productive ventures.
“Remittances to Mali reached nearly 700 billion CFA francs in 2023, representing 5% of GDP,” he said, announcing measures to facilitate diaspora-driven development.
These include the creation of a one-stop shop within the Malian Investment Promotion Agency (API-Mali), tax incentives, a national strategy for diaspora investment, and a guide to promising sectors.
A feasibility study is also underway to establish an investment bank dedicated to Malians abroad.
The Prime Minister noted that the 2023 Constitution provides for diaspora representation in Parliament, the National Assembly, and the Senate, ensuring that financial contributions are matched by political participation.
Over the course of the forum, participants are focusing on improving migration governance, developing skills, and removing administrative and financial hurdles to investment.
The government hopes these efforts will transform remittances from mere consumption into a driving force for sustainable growth, even as Mali continues to face economic, security, and climate challenges.
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