Central Bank of Kenya data shows diaspora remittances reached a new record in the latest reporting month, continuing a multi-year upward trend that has made remittances one of the country's largest sources of foreign exchange.
North America continues to account for the largest share of inflows, followed by Europe, with growing contributions from Kenyan communities in the Middle East.
Why It Matters
Remittances provide a relatively stable source of foreign currency compared to more volatile export revenues, and increasingly support both household consumption and small business investment in recipient communities.
