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Diaspora inflows rose 9.2 percent to KES 76.9 billion in six months

31 July 2015, 08:02 PSCU

Nairobi - Diaspora remittances hit KES 76.93 billion in the first half of 2015, official data released by the Central Bank of Kenya (CBK) shows. This is an increase of 9.2 percent compared to KES 70.4 billion recorded in the same period last year.

Last month, Kenyans living abroad sent home KES 13.87 billion, a jump of 17.1 percent compared to KES 12.08 billion in June 2014. The June inflows were 5.3 percent higher than KES 13.17 billion captured in May. Last year, for example, inflows from the diaspora community was top foreign exchange earner at about KES 145.93 billion under prevailing rates.

They beat tea and horticulture exports whose income was KES 94 billion and 84.08 billion. The CBK said 12-month cumulative inflows to June 2015 rose by 10 percent to KES 152.24 billion from KES 138.46 billion in the year to June 2014. “The 12 month average flow sustained an upward trend to KES 12.68 billion from KES 11.54 billion during the same period”, the CBK said.

Kenyans residing in North America still dominated the inflows, accounting for 49.3 percent of the total last month. They sent in KES 6.88 billion.

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