Remittances by Kenyans in diaspora soars to KSh24.55 billion in January 2019

Diaspora remittances rose 17.22% in January this year compared to a similar period in 2018 according to the Central Bank of Kenya (CBK) data.

“The inflows improved from KSh20.94 billion in January 2018 to KSh24.55 billion in January 2019, an increase of 17%. The 12-month cumulative inflows to January increased to USD 2,733 million from USD 2,013 million in the 12 months to January 2018, reflecting a 36%
growth.”

North America, Europe and the rest of the world accounted for 44 %, 34%, and 22%, respectively, of the total remittances in January 2019.

In 2018, Kenyans in the diaspora remitted a cumulative Ksh 274.37 billion representing a 39% increase from 2017’s Ksh 198.07 billion.