Cash remittance to Kenya by Kenyans in the diaspora grew 9.26percent in August compared to July 2017.
According to monthly data released by Central Bank of Kenya (CBK), Kenyans abroad sent a total of $166.4 million in the month of August. The amount is $14.1 billion more than the $152.3 million remitted by the diaspora community in July.
Remittances have in the recent past become the country’s largest source of foreign exchange.
A World Bank report covering formal sources of inflows places Kenya among the highest recipients of remittances in Africa.