Africa now fastest growing source of diaspora flows to Kenya
Remittances, which are the single-biggest source of forex inflows into Kenya, stood at $4.3 billion, beating earnings from tourism ($1.85 billion), tea ($1.13 billion) and horticulture that brought in $1.1 billion last year. PHOTO | SHUTTERSTOCK
Diaspora remittances from African countries to Kenya posted a 42 percent growth in the seven months to July as more Kenyans continue to seek jobs and study abroad, especially in the continent.
The Central Bank of Kenya (CBK) data reveals that in the seven months to July, Kenyan citizens living in other African countries wired $164.4 million (Ksh22.2 billion), up from $116 million (Ksh15.6 billion) last year.
