Kenyans living abroad sent home KSh41.35 billion in April (diaspora remittances), a KSh700 million drop compared to the KSh42.05 billion sent in March.
The Central Bank of Kenya (CBK) data shows the US remains the largest source of remittances into Kenya, accounting for 62% in the period under review.
In a similar month last year, total remittances were KSh34.8 billion, an 18.6% increase which means Kenyans abroad sent more money this year.
The cumulative inflows for the 12 months to April 2022 totalled $3,968 million compared to $3,308 million in the same period in 2021, an increase of 20%.
According to an analysis by global payments company, WorldRemit, education, healthcare, and household needs are the main uses of remittances in Kenya, sectors that tend to have a multiplier effect on development.
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