Apart from Africa and the US, other top sources of Kenya's remittances are Canada, the UK, Germany, Saudi Arabia, United Arab Emirates, and Australia. PHOTO | SHUTTERSTOCK
Money sent home by Kenyans living abroad continued on a growth trajectory to hit a record Ksh671 billion ($4.19 billion) in 2023, significantly boosting the country’s current account balance amid falling export revenue.
Data from the Central Bank of Kenya (CBK) shows that diaspora remittances in the 12 months to December 2023 increased by 4 percent from the $4.028 (Ksh645 billion at current exchange rates) recorded in a similar period in 2022.
