Panafrican News Agency

Kenyan Diaspora sent home $2.8 billion in 2019

Nairobi, Kenya (PANA) - Kenyans abroad sent home $2.8 billion last year, a 3.7 percent rise compared to $2.6 billion transferred dispatched in 2018, the Central Bank of Kenya has said.


A huge chunk of the transfers was from Kenyans living in the United States.


Kenyans staying in the US accounted for half of the total cash sent while those in the other parts of North America, Europe and the rest of the world accounted for 50 percent of the total remittances in December, the Bank said.


Remittances in Kenya has become the biggest source of foreign exchange, with tourism, tea, coffee, and horticultural exports, following in second, third, fourth and fifth position respectively.

-0- PANA DJ/AR 20Jan2020