Kenya's remittances rise 20 percent yr/yr in January to $137.5 mln
11 March 2016, 10:05
Nairobi - Money sent home by Kenyans living abroad rose 20 percent year-on-year in January to $137.5 million, the central bank said on Monday.
Also known as remittances, the cash is a leading source of foreign exchange for east Africa's biggest economy alongside tea, horticulture and tourism. Kenyans abroad usually send money to help their families and to invest government securities and in projects like real estate.
In full year 2015, remittances to Kenya rose 8.4 percent to a record $1.54 billion.
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