Diaspora remittances drops by Sh400m

Kenya: The amount of money sent by Kenyans living abroad dropped slightly to Sh10 billion in June,  from Sh10.4 billion in May. The Central Bank of Kenya (CBK) attributed the four per cent drop to a decline in inflows from North America and Europe. This is the second month this year that the remittances inflows have dropped, the first being in April.

The June records, however, shows an improvement compared to the Sh6 billion diaspora inflows to Kenya in same period last year. CBK conducts a monthly survey on remittance inflows through the formal channels that include commercial banks and other authorised international remittance service providers in Kenya.