Diaspora Remittances Drop As Covid-19 Hurts Kenyans Abroad: Kenyans living abroad sent home Sh23 billion ($218.9 million) last month, a drop from Sh26 billion sent in January.
Kenyan Diaspora Remittances rise 4pc to hit Sh26 billion: The country experienced increased cash inflow from Kenyans living and working overseas after diaspora remittances increased to Sh25.94 billion
Kenyans living and working abroad sent home Sh67.16 billion in the first three months of the year, underlining the dependability of the inflows and importance to the economy.
New research from the digital money transfer service WorldRemit shows thousands of Kenyan children are in school, have access to books and educational supplies, and are more likely to study than work due to international remittances.
Diaspora remittances rose 72 per cent in June to a record Sh26.8 billion ($266.2 million) compared to a similar month last year, reflecting lower costs of remitting money and the effect of the tax amnesty for remitting assets stashed…
The Kenya shilling is the only one amongst major frontier and emerging markets currencies that appreciated in the first half of the year, a Citigroup analysis shows.