President William Ruto on Sunday stated that his administration is depending on casual labourers working abroad to stabilise the depreciating Kenyan Shilling. Speaking during a church service in Kimende in Kiambu County, Ruto stated that the dollar remittances by Kenyans in the diaspora will be key in helping the Kenyan economy recover from its current slump. The Head of State further announced that he had reached an agreement with a host of foreign nations to export thousands of Kenyan casual labourers who will earn a minimum of Ksh150,000 per month. We will send thousands more.”The Kenyan Shilling has shed more than 20 per cent of its worth since President William Ruto was sworn in in September 2022. Trading at Ksh153 against the dollar, only the Nigerian Naira and Angolan Kwanza have depreciated faster than the Kenyan quid.

Source: Daily Nation December 10, 2023 12:00 UTC