Harnessing the Benefits of Remittances via a Health Account

Abstract

Remittances remain a vital financial inflow into the economies of Sub-Saharan Africa (SSA). Many studies have outlined its role in indicators such as health, education, poverty reduction, economic growth, financial development, among others. This stimulates the need to harness the benefits associated with this financial inflow. The study proposes an idea to utilize remittances in Sub-Saharan Africa and advances recommendations to augment existing initiatives. A descriptive approach was used. The study recommends the creation of a health account to encourage savings purposely for the healthcare financing of remittance recipients in SSA. It further outlines processes via which such an account could work and the prospective benefits be reaped.