Diaspora remittances surges to Kshs. 32B in April – KBC

Kenyans living abroad sent home Kshs. 32 billion ($299.3 million) last month as remittance inflows continue to withstand COVID-19 jitters to record impressive year-on-year growth.

Data from the Central Bank of Kenya (CBK) indicate that April year-on-year inflows increased 43.7% from Kshs. 22.3 billion registered during the same month in 2020.

The April remittance inflows was also 2.9% higher than Kshs. 31 billion ($290.8 million) Kenyans abroad sent home in March this year.

According to CBK, cumulative inflows in the 12 months to March 2021 totalled Kshs. 354 billion ($3,308 million) compared to Kshs. 299.7 billion ($2,801 million) in the same period in 2020, an 18.1% increase.

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

(USD1= Kshs.107)