Connect with us

Hi, what are you looking for?

CBK Governor Patrick Njoroge/CFM


Kenyans abroad sent home Sh33bn in June: CBK

NAIROBI, Kenya, Jul 18- Kenyans living abroad sent home Sh33 billion in the month of June, new data shows.

The data from the Central Bank of Kenya’s weekly bulletin says this is a reduction from Sh34 billion that was sent in May 2021, which was the first time the inflows crossed the $300 million mark.

The inflows represent a 20.4 percent increase from remittances sent between June 2020 to June 2021.

“The cumulative inflows in the 12 months to June 2021 totaled USD 3,383 million compared to USD 2,809 million in the same period in 2020, a 20.4 percent increase,” CBK notes.

The United States continues to be the largest source of remittances into Kenya, accounting for 58.8 percent of remittances in June 2021.

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

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

Remittances also play a key role in providing livelihood to low-income households in the country.


Advertisement. Scroll to continue reading.
1 Comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...