Market News Kenya remittances jump by nearly half in Feb to hit Sh21bnA Western Union signage on Kenyatta Avenue in Nairobi. FILE PHOTO | NMGRemittances by Kenyans living abroad jumped by nearly one-half in February to hit a new monthly high of Sh21.25 billion ($210.36 million), driven by increased inflows from the US. Diaspora inflows in February were slightly higher than Sh21.10 billion ($208.92 million) in January and Sh20.59 billion ($203.82 million in December, which were both historic highs. Kenyans in North America, largely the US and Canada, sent home Sh11.71 billion ($115.97 million) marking a 77.53 per cent jump from Sh6.60 billion ($65.33 million) in February 2017. An estimated three-quarters of Kenya’s diaspora remittances go into family support such as school fees and medical bills.

Source: The North Africa Journal April 11, 2018 07:52 UTC