Diaspora inflows hit Sh67bn in quarter one

 

Kenyans living and working abroad sent home Sh67.16 billion in the first three months of the year, underlining the dependability of the inflows and importance to the economy.

The inflows rose 11.4 per cent to $221 million (Sh22.32 billion) in March from $199 million (Sh20.11 billion) in February, helping to propel first quarter remittances above Sh64.79 billion that was sent during the first quarter of last year.

Data by the Central Bank of Kenya (CBK) shows that the 12-month cumulative inflows increased to Sh274.84 billion in March this year from Sh217.7 billion in March last year, reflecting a 26 percent growth.

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