Kenyans living abroad sent home Sh28.1 billion in September, marking a third monthly drop after a high recorded in June. Diaspora remittances in June, which stood at Sh31.1, billion ($288.5 million) were the second-highest booked flows in a single month on record, defying the coronavirus wave. Data from the Central Bank of Kenya (CBK) shows remittance inflows in September stood at $260.7 million compared (Sh28.15 billion) compared to Sh29.7 billion sent in August and Sh29.9 billion in July. The cumulative inflows in the 12 months to September totaled $2.97 billion (Sh321.8 billion) compared to $2.77 billion (Sh299.1 billion) in the 12 months to September 2019. Last year, Kenyans abroad sent Sh280 billion which was a 3.7 percent rise compared to Sh269.7 billion dispatched in 2018.

Source: The Star October 26, 2020 00:56 UTC