NAIROBI, Kenya, Jan 18 – Kenya was the fourth highest recipient of remittances in 2015 in Sub – Saharan Africa, receiving $1.6 billion (Sh163.7 billion), which is a growth of 16.6 percent from the previous year.
This is according to World Bank’s Migration and Remittances Factbook 2016.
The report states that Kenya fell behind Nigeria that received $ 20.8 billion, Ghana $2 billion and Senegal that received $1.6 billion.
The country was also among the top 10 remittance senders in 2015, sending about $200 million (Sh20.4 billion), falling behind Angola ($l.3billion), South Africa ($1.1billion), Liberia ($O.4billion), Uganda ($0.3billion), Mozambique ($0.2billion), Mauritania ($0.2billion).
In 2015, the top recipient countries of recorded remittances were India, China, the Philippines, Mexico, and France.
Worldwide remittance flows in the year under review are estimated to have exceeded $601 billion.
Of that amount, developing countries are estimated to receive about $441billion, nearly three times the amount of official development assistance.
The true size of remittances, including unrecorded flows through formal and informal channels, is believed to be significantly larger.
More than 247 million people, or 3.4 percent of the world population, live outside their countries of birth.
Although the number of international migrants rose from 175 million in 2000 to more than 247 million in 2013 and will surpass 251 million in 2015, the share of migrants has remained just above three percent (of world population)for the last fifteen years.
The top migrant destination country is the United States, followed by Saudi Arabia, Germany, the Russian Federation, the United Arab Emirates, the United Kingdom, France, Canada, Spain, and Australia.
The Mexico–United States corridor is the largest migration corridor in the world, accounting for 13 million migrants in 2013. Russia–Ukraine is the second largest corridor, followed by Bangladesh-India, and Ukraine–Russia.