Kenyans in the US Lead as April Diaspora Remittances Hit Sh24.7 Billion

Kenyans living and working in the diaspora sent home a staggering Sh24.7 billion in April 2019.

The amount represents a 13 percent increase compared to about Sh21 billion sent in the same month last year. 

Latest data from the Central Bank of Kenya (CBK) shows that the diaspora inflows returned to the highest level since June 2018, when they stood at a record Sh26.9 billion.

In its latest weekly bulletin, the CBK said Kenyans in the United States contributed the largest share of the remittances at 45.6 percent.

North America is the leading continent in terms of inflows with 47 percent, Europe (24 percent) and the rest of the world (29 percent).

“The 12-month cumulative inflows to April increased to $2.75 billion from $2.23 billion in April 2018, reflecting a 23 percent growth,” said CBK in the report.

“North America, Europe and the rest of the world accounted for 47 percent, 24 percent, and 29 percent, respectively. Remittances from the US amounted to $111.97 million representing 45.6 percent of inflows in April 2019.”

The remittances from Kenyans abroad remain the country's largest source of foreign income ahead of tourism receipts, tea and horticulture exports.