Kenya’s diaspora remittances jump to Sh325bn in six months

The remittances grew from $2.379 billion (Sh307.4 billion) recorded in the same period last year, latest data from CBK shows.

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Cash wired into the country by Kenyans living and working abroad rose by 5.8 percent to $2.519 billion (Sh325.4 billion) during the six months to June ahead of new United States legislation that introduces taxes on such transactions starting next year.

The remittances grew from $2.379 billion (Sh307.4 billion) recorded in the same period last year, latest data from the Central Bank of Kenya shows.

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Note: The results are not exact but very close to the actual.