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Kenya

Kenyans abroad sent home Sh32bn in April – CBK

NAIROBI, Kenya, May 18- Kenyans living abroad sent home Sh32 billion (USD 299.3 million) in April 2021, a new data show.

Data by the Central Bank of Kenya reveals that the inflows represent a 43.7 percent increase from remittance sent in April 2020 and 2.9 percent rise in March 2021.

“Remittance inflows increased to USD 299.3 million in April 2021, from USD 208.2 million in April 2020, representing a 43.7 percent increase and 2.9 percent higher than the remittances in March 2021,” said CBK in its weekly bulletin.

The cumulative inflows in the 12 months to March 2021 totalled USD 3,308 million compared to USD 2,801 million in the same period in 2020, an 18.1 percent increase.

The United States continues to be the largest source of remittances into Kenya, accounting for 57.2 percent of remittances in April 2021.

Diaspora inflows have remained Kenya’s largest source of foreign exchange since 2015.

In 2020, Kenyans abroad sent home Sh341 billion defying the pandemic odds.

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