Kenyans Abroad Sent Home Sh30.6 Billion in January
By John WanjohiPublished · 547 reads
Kenyans in the diaspora sent home $278.4 million (Sh30.6 billion) in January 2021, the latest data by the Central Bank of Kenya (CBK) shows.
Last month’s inflows represent a 7.3 percent growth compared to the same period in 2020 when remittances stood at $259.4 million (Sh28.5 billion).
The cumulative diaspora remittances in 12 months to January this year totaled $3,113 million (Sh342.4 billion) compared to $2,811 million (Sh309.2 billion) in 12 months to January 2020—a 10.8 percent increase.
CBK is currently conducting a survey on diaspora remittances with a view of collecting valuable information that will help tap the inflows for economic growth. CBK is collaborating with the Kenya National Bureau of Statistics (KNBS), and the Ministry of Foreign Affairs for the study that will end in March.
“The vital information includes: the efficiency and cost of alternative remittance channels; the difficulties encountered in remitting cash or non-cash transfers; the availability of information to Kenyans in the diaspora about investment opportunities in Kenya; and the usage of remittances received,” CBK said last month.
Remittances from Kenyans living and working abroad hit a record high of $3,094 million (Sh340.3 billion) in 2020, from $2,796 million (Sh307.6 billion) in the previous year, translating to a 10.7 percent increase.
Comments (6)
That's all Kenyans in diaspora are worth to UHURUS government.
With all the looting going on in Kenya...we should not even be talking about this.
Who told you Uhuru wants money from the diaspora? Who told you @little frog!?
Invest where you live. American growth is robust
CBK should be studying the impact of Uhuru administrations loot on the economy.
Diasporans remittance to their families will continue regardless of the the outcome of CBK study.
Diaspora deserved their governor, mca and 35pc. The 48th county. Miguna?
No!!. We haven't asked for representation and certainly not Migunax2. The government's #1 job is those being squeezed by the financial burdens due to covid and corruption(this is the main disease). Corruption is really the contagion that needs a vaccine.