Kenya Diaspora Remittances in January up by 19.9% to a record 13.8 Billion

 Kenya Diaspora Remittances in January up by 19.9% to a record 13.8 Billion

Kenya’s Central Bank has said the country’s January diaspora Remittances have increased by 19.9% to Ksh 13.7 Billion (USD 137.5 million) compared to Ksh 11.6 Billion(USD 114.6 million) recorded in January 2015.This was the highest ever recorded in a single month in Kenya.

The Central Bank conducts monthly surveys through commercial banks and other authorized international remittance service providers in Kenya to monitor the the amount of money sent to Kenya from other countries.

The January 2016 inflows were 2.6% higher than in December 2015, with the increase increase largely attributed from the Rest of the World though accounting for the least amount by volume and market share as shown below.

Source: KenyanWallstreet