Browsing: Diaspora remittances

Remittances sent by overseas Kenyan workers decreased 11.5 per cent in February on a month-on-month basis, the Central Bank said.…

Kenyans living abroad sent home KSh43.7 billion in January, a 3.2 per cent increase compared to the KSh42.4 billion sent…

Kenyans working and living abroad sent home a record USD 350.6 million (KSh39.7 billion) in December 2022, Central Bank of…

Remittances represent an important source of foreign exchange and support many livelihoods.

The US remains the largest source of remittances into Kenya, accounting for 59 per cent of money sent back home in the month under review.

Diaspora remittances are part of Kenya’s largest foreign exchange earner, largely contributing to the country’s forex reserves to stabilise the shilling.