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Diaspora remittances down in Sept

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Diaspora cashMoney flowing in from Europe went up by 29.1 per cent in September as overall diaspora remittances declined by more Sh460 million.
The inflows for the month saw a decrease of 3.4 per cent to $128.4 million (Sh13.1 billion), compared with August.

In August, Kenya recorded an increase to $132.9 million (Sh13.6 billion), as money from North America and the rest of the world shrunk.
The figure for this year, however, increased by 0.9 per cent compared to $127.4 million (Sh13 billion) during a similar period last year, according to figures posted by the Central Bank of Kenya.
Cumulatively to September, remittances were 7.8 per cent higher with the 12-month average flow sustaining an upward trend.
Europe’s contribution to the inflows rose to 29.1 per cent from 27.6 per cent bringing in $37.4 million (Sh3.8 billion) in September.
North America’s contribution declined by $2.3 million (Sh235 million), while the rest of the world reduced by $2.9 million (Sh296 million) between the months of August and September.


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