Kenya: Diaspora Remittances Increase to Ksh586 Billion Remittances

Money sent by Kenyans living and working abroad has surged by 12.9 per cent over the past year, climbing to an impressive Ksh586 billion by June 2024.

This marks a significant rise from the Ksh519.1 billion recorded in June 2023, according to the latest data from the Central Bank of Kenya (CBK).

The remittances over the 12 months have jumped by Ksh66.936 billion. 

“The cumulative inflows for the 12 months to June remained steady at USD 4,535 million (about Ksh586 billion) compared to USD…