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.
Comments (4)
This information makes you realize how deep the seed of wivu (jealousy) is and the stereotype that black people love to tear each other and bring each other down rather than fight for a common good. The amount of remittance shown here is higher than that from tourism, or tea, or horticulture, yet you don't see people working hard and cheering for the destruction of these sectors of our economy. However, every diaspora story (and even some that have nothing to do with diaspora) will always find someone who is admonishing, or even worse, insulting those who seek to make their fortunes elsewhere except their country of birth. A very personal decision!
It would not surprise me if someone in Trump administration sees this figure of remittances and tellsTrump to slash aid to kenya by same amount...
Unappreciated diasporians are at it again trying to save the dear shilling from going to the garbage. Were it not for them, the economy would have long gone to the dogs. It is very foolish and unfortunate too see Kenyans mocking, laughing at the "dirty jobs" diasporians do but they are quick to want our money by all means. Rather Pathetic ..
Apparently wazungu weusi are at it again ...what a dynamic group!