Kenyans’ diaspora remittances reduced by Sh 700million in April, the Central Bank has said.
According to the Central Bank of Kenya weekly bulletin, Kenyans living abroad sent home Sh41.35billion in April, compared to the Sh42.05billion sent in March.
The US remains the largest source of remittances into Kenya, accounting for 62 per cent in the period.
CBK says that strong remittances inflows continue to support the current account and the stability of the exchange rate
Global payments company WorldRemit analysis shows that education, healthcare, and household needs are the main uses of remittances in Kenya.