Diaspora inflows grow to Ksh 54.5B in June

Kenyans abroad sent a total of Ksh 54.5 billion ($423M) last month according to the latest data by the Central Bank of Kenya (CBK).

Though this was a 3.9pc month-on-month decline when compared to May, the remittance inflows rose by 13.8pc when compared to the same period last year.

“The steady growth in remittance inflows remain a key source of foreign exchange earnings and continues to support the balance of payments,” said CBK.

In twelve months of the year to June this year, diaspora inflows grew by 12.1pc to Ksh 655.8 billion compared to Ksh 583.1 billion in a similar period in 2024.

Inflows from North America declined by 3.7pc from Ksh 32.4 billion ($251.4m) in May to Ksh 31.6 billion ($244.7m) in June while that of Europe decline by Ksh 46.1 million ($357,360) to Ksh 10.3 billion ($80.16m).

Diaspora remittance from the rest of the world decline by the largest margin, from Ksh 14 billion in May to Ksh 12.6 billion in June, a 9.4pc decline.