Author: Lynet Awino

Lynet Okumu, a Masinde Muliro University graduate, is a digital journalist passionate about impactful storytelling. She writes on health, business, relationships, and daily life, blending accuracy and creativity to craft engaging, informative content.

2 Mins Read BANKING & FINANCE

Equity Bank, NALA Partner To Facilitate Remittances into Kenya

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Equity Bank Kenya has inked a deal with NALA Payments Limited, a remittance payment processing platform licensed in the UK and United States, to facilitate diaspora remittances into Kenya. The partnership will allow Kenyans living in the United Kingdom and the United States to instantly send money directly from their banks through the NALA app to Equity Bank Kenya accounts and other mobile wallets. According to NALA CEO Benjamin Fernandes, the partnership will allow it to build a more robust financial infrastructure for Kenyans worldwide. “Payments in Africa are 1% built, and technology enables us to make strides towards integrating…

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2 Mins Read BANKING & FINANCE

Kenya’s Diaspora Remittances Declined by 3.2% to Ksh 38.5 Bn in June

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Remittances by Kenyans in the Diaspora declined by 3.2 per cent in June 2022, the Central Bank said. According to the Central Bank of Kenya (CBK), remittances dropped to KSh38.5 billion compared to KSh39.8 billion recorded in April. CBK noted that the US remains the largest source of remittances in Kenya, accounting for 59 per cent in the period. “The strong remittance inflows continue to support the current account and the stability of the exchange rate,” said CBK in its weekly bulletin. Year Month North America Europe Rest of World Total Remittances (USD ‘000) 2022 1 215,528.88 57,828.80 65,362.07 338,719.75…

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