Diaspora Remittances to Kenya totaled $321.5 million (KSh36.6 billion) in February, 5.1 percent lower compared to $338.7 million (KSh38.3 billion) in January.
Data from the Central Bank of Kenya (CBK) Weekly Bulletin said cumulative inflows for the 12 months to January totaled $3.84 billion (KSh437.7 billion) compared to $3.15 billion (KSh359.1 billion) in the same period in 2021, a 21.4 percent increase.
The drop was attributed to seasonal factors.
The United States of America remains the largest source of remittances in Kenya, accounting for 58 percent in February 2022. It contributed $186.5 Million in February 2022 compared to $ 209.1 Million in January 2022.
The largest source of diaspora remittances to Kenya in Africa was Tanzania, with $ 3.9 Million. It is followed by Uganda, which contributed $ 2.6 Million in February 2022.
In total, remittances from Africa totaled $ 20.1 Million in February 2022 compared to $ 15.5 Million in January 2021.