RemittancesGateway.org

Kenyans Living Abroad Sent Home $124.9 Million in First Two Months of Year

Friday, 01 April 2011 09:12

Kenyans living abroad sent home $124.9 million in the first two months of 2011, compared with $91.5 million in the same period a year earlier, the central bank said.

The amount of remittances in February surged 31 percent to $60.8 million as economic growth in source markets improved, the Nairobi-based Central Bank of Kenya said on its website yesterday.

North America contributes about 53 percent and Europe 27 percent of total remittances to the East African nation, the statement said.