Kenyans Abroad Boost Economy with Ksh58 Billion March Inflows

Kenyans abroad sent Ksh58.15 billion (USD 450.3 million) home in March 2026, the highest monthly inflow recorded this year, according to data from the Central Bank of Kenya.

The figure marks an increase from Ksh53.31 billion in February, representing a 9.1 per cent rise and reversing the slower pace seen at the start of the year. In January, remittances stood at Ksh52.65 billion, indicating a more cautious beginning to 2026.

For the 12 months to March, total remittances reached Ksh655.9 billion (USD 5.0 billion), a 2.2 percent increase compared with the same period a year earlier. 

Although annual growth remains modest, the March increase points to continued resilience in diaspora inflows despite global economic uncertainty, including geopolitical tensions earlier in the year. Remittances remain a key source of foreign exchange for Kenya, supporting the balance of payments at a time when other inflows face pressure. 

The Central Bank of Kenya stated that steady diaspora transfers, together with a relatively stable shilling, have helped maintain external liquidity. The currency has remained broadly steady in recent weeks, trading at about Ksh129.18 to the US dollar in mid-April.

At the same time, Kenya’s foreign exchange reserves have declined gradually. As of 16 April, reserves stood at Ksh1.718 trillion (USD 13.3 billion), equivalent to 5.6 months of import cover. This level remains above the statutory minimum of four months but is lower than figures recorded in March. 

The decline increases the importance of consistent remittance inflows in supporting the external account. North America, particularly the United States, and Europe continue to be the main sources of remittances. Additional growth has also come from the Gulf region as more Kenyans take up employment there. A detailed regional breakdown for March has not been provided, but these corridors remain central to overall inflows.

The increase in remittances comes amid rising domestic costs, especially in the energy sector. Fuel prices have approached Ksh200 per litre, which may place added pressure on household budgets and contribute to inflation.