May diaspora inflows grow 22.3% to hit Kshs. 33.8B – KBC

Kenyans living abroad sent home Kshs. 33.8B ($315.8 million) in May compared to Kshs. 27.6 billion ($258.2 million) sent during the same period last year representing a 22.3% year-on-year increase.

Latest data from the Central Bank of Kenya (CBK) also indicate that the cumulative diaspora inflows in the 12 months to May 2021 rose 19.5% to total Kshs. 360 billion ($3,365 million) compared to Kshs. 301.3 billion ($2,816 million) in the same period in 2020.

“The United States continues to be the largest source of remittances to Kenya, accounting for 57.8% of remittances in May 2021,” said CBK.