Kenyans living abroad have defied the Covid-19 pandemic and other vagaries of life abroad to set a new record on monthly remittances back home.
The diaspora family sent home a whopping Ksh34 billion in the month of May. This is the highest amount to ever been remitted to Kenya in a singe month by those living abroad.
This is good news especially because there is a general belief that life abroad can be grueling – and that it’s not for the fainthearted. The remittances were 22.3 per cent higher than the Ksh27.8 billion in May, 2020.
Remittances have increased by 19.5 per cent to Ksh366.5 billion ($3.4 billion) in the last 12 months.
Those living in the US remitted 57.8 per cent of the moneys which translated to Ksh19.7 billion ($182.6 million).
North America in general brought home the giant share at Ksh20.9 billion ($193.6 million).
Those in Europe sent home Ksh7.1 billion ($65.9 million) with most of it coming in from the United Kingdom at Ksh3.7 billion.
Asia totaled to Ksh3.5 billion ($32.7 million), Africa brought in Ksh1.5 billion ($13.5 million) and the rest of the world saw Ksh1.1 billion ($10.2 million) flow into the country.
Kenyans living abroad sent home Sh31.5 billion ($290.8) in March 2021. The diaspora remittances grew 27 per cent from Sh24.8 billion ($228.8 million) that was sent home in March 2020.
In 2020, Kenyans abroad sent back total of Ksh334.2 billion ($3.1 billion).
Reports indicate that there are over 3 million Kenyans living abroad spread across Asia, Europe, America, Caribbean and Australia.