Money sent by Kenyans living in Europe reduced by 6.3 per cent last month as the decision by Britain toRead more
East Africa’s economic giant, Kenya, has seen an 8.4 per cent surge in diaspora remittances.
Diaspora remittances to Kenya rose to 1.54 billion US dollars in 2015 up from 1.43 billion US dollars in 2014.
The World Bank says remittance flows to Kenya and Ethiopia from the diaspora has significantly increased compared to the rest of Sub-Saharan Africa.
The Central Bank of Kenya says the 12-month cumulative inflows from the diaspora to August increased by more than 9 % to 1.5 million dollars, from the 1 million dollars it recorded in the same period last year.Read more
Western Union, a leading global provider of payment services, and Ecobank Transnational Inc. (Ecobank), the sub-Saharan Africa s leading financial services group, have unveiled Account Based Money Transfer service (ABMT) in Kenya.Read more