Money sent home by Kenyans living and working abroad grew 23.1 percent during the first four months of this year to hit $1.6 billion (Sh210.4 billion) compared to the $1.3 billion (Sh170 billion at current exchange rates), buoyed by easing inflationary pressures in developed economies.
Latest data from the Central Bank of Kenya (CBK) indicates that Kenyans living in diaspora remitted $397.3 million (Sh52.2 billion) in April to add onto the cumulative $1.2 billion (Sh157.8 billion) sent home during the first quarter of the year, with last month’s inflows being the least during the review period.
January recorded the highest amount so far this year at $412.4 million (Sh54.2 billion) followed by March which posted $407.8 million (Sh53.6 billion) while February came third at $385.9 million (Sh50.7 billion).
The combined amount sent back to Kenya between January and April 2024 translates to a $267.5 million (Sh35.2 billion) increase from the inflows that were wired into the country during the first four months of last year.
Increased dollar inflows from Kenyans abroad have partly helped ease pressure on the shilling this year by supporting the supply side of the dollar against demand by importers shipping in goods.
Last month, the US retained its position as the largest source of remittances to Kenya, accounting for 49 percent of the total remitted value which was a drop from its 56 percent contribution in March.
During the three-month period to last March, the United Kingdom (UK) overtook Saudi Arabia to become the fastest-growing source of diaspora dollar flows into Kenya.
Other top sources of remittances include Germany, Australia, the United Arab Emirates, Tanzania as well as Canada.
The improvement of overall remittances’ performance follows the cooling off of the Russia-Ukraine conflict which had disrupted global supply chains, sending global inflation to decades-high levels.
Sky-high energy, food and rent prices due to the supply disruptions following Russia’s invasion of Ukraine in February 2022 had pushed up living costs in the US and Europe, eating into the disposable income that Kenyans in those economies tap to assist families and dependents back home.
Since 2015, remittances from abroad have remained the largest source of foreign cash flows into Kenya ahead of tourism, foreign direct investments and the export of agricultural products such as tea and coffee.
A CBK-commissioned Kenya Diaspora Remittances Survey Report of December 2021 showed that the largest share of the inflows goes into supporting families at home to buy food and household goods as well as pay medical bills and school fees.
Share this news
This Year's Most Read News Stories
Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response
Addis Ababa, January 20, 2025</Strong> — Tanzania has declared a Marburg virus disease (MVD) outbreak after confirming one case and identifying 25 suspected cases in the Kagera Region of Northwestern Tanzania. The Marburg virus, a highly infectious and often fatal disease, is similar to Ebola and is transmitted to humans from fruit bats and monkeys. This outbreak marks the nation’s second encounter with the deadly virus, following the outbreak in Bukoba District of Kagera Region in March 2023, which resulted in nine cases and six deaths.
In response to this urgent threat, the Africa CDC is mobilizing strong support to help Tanzania contain the outbreak. A team of twelve public health experts will be deployed as part of an advance mission in the next 24 hours. The multidisciplinary team includes epidemiologists, risk communication, infection prevention and control (IPC), and laboratory experts to provide on-ground support for surveillance, IPC, diagnostics, and community engagement.
The Director-General of Africa CDC, Dr. Jean Kaseya, has engaged with Tanzania’s President Samia Suluhu Hassan and the Minister of Health to ensure coordinated efforts and secure political commitment for the response.
“Africa CDC stands firmly with Tanzania in this critical moment. To support the government’s efforts, we are committing US$ 2 million to bolster immediate response measures, including deploying public health experts, strengthening diagnostics, and enhancing case management. Building on Tanzania’s commendable response during the 2023 outbreak, we are confident that swift and decisive action, combined with our support and those of other partners, will bring this outbreak under control,” Dr. Kaseya stated.
Africa CDC has recently supported efforts to enhance the diagnostic and sequencing capacity of public health laboratories in Tanzania. PCR Test kits and genomic sequencing reagents have been dispatched, with additional supplies in the pipeline. To ensure rapid identification and confirmation of cases, the institution will also provide technical assistance to strengthen detection and genome sequencing for better characterization of the pathogen. Additionally, support will be provided to improve case management protocols and enhance the capacity to deliver safe and effective treatment.
Africa CDC is committed to working closely with the Government of Tanzania, regional partners, international organizations, and global stakeholders, including the World Health Organization, to stop the spread of the Marburg virus.
Source: allafrica.com
Zanzibar’s tourism body chairman Rahim Bhaloo resigns
Bhaloo, who is also Chairman of the Zanzibar Commission for Tourism (ZCT), cited pressing family issues as the reason for his departure.Continue Reading
‘Pilot error’ caused Precision Air crash
Reports says prevailing poor weather led to the pilots failing to heed warning signals.Continue Reading
