Kenya’s March diaspora remittances defy C-19

Kenya continued to record more remittances from its citizens working or living in the United States of America, United Kingdom and the rest of Europe.
This is despite effects of COVID 19 pandemic on the global economy, which has cut such inflows from other countries such as South Africa, United Arab Emirates, Mauritius and Oman.
Weekly data from the Central Bank of Kenya (CBK) shows that Remittance inflows increased to US$ 228.9 million in March 2020 compared to US$ 218.8 million in February. The cumulative inflows in the 12 months to March 2020 totalled US$ 2,838 million compared to US$2,722 million in the 12 months to March 2019, reflecting a growth of 4.3 per cent.

Read more at:The Kenyan Wall Street

Leave a Reply

Your email address will not be published. Required fields are marked *