Remittances

Swansea

Village Elder
#1
Diaspora remittances hit all-time high in June at Sh1bn a day
MONDAY, JULY 22, 2019 20:01
BY GEOFFREY IRUNGU

Diaspora inflows rose by more than a fifth in June to reach an all-time high, data from the Central Bank of Kenya (CBK) shows.
The remittances rose to Sh30.4 billion ($295.3 million) in June compared to Sh25.1 billion ($243.2) in May — indicating a 21.4 per cent change.
“The remittance inflows rose to an all-time high in June 2019 amounting to $295 million compared to $243 million in May,” said the CBK.
In the 12 months to June, the inflows increased to Sh285.4 billion from Sh251.4 billion, representing a 13.6-per cent growth.
“The 12-month cumulative inflows to June 2019 increased to $2,768 million from $2,438 million in the 12 months to June 2018, reflecting a 13.6 percent growth,” said the regulator.

The CBK data further shows most of the remittances came from North America, which accounted for 38 per cent of the total amount, while Kenyan European diaspora brought in 32 per cent. Other parts of the world brought in 30 per cent.
“North America, Europe and the rest of the World accounted for 38 percent, 32 percent and 30 percent, respectively, of the remittances in June 2019,” the CBK said.

Currently, Kenya tops in diaspora remittances in the eastern African region and the amount the country receives constitutes the single largest source of foreign currency ahead of major crops and tourism.
The World Bank recently reported Kenya’s Sh280 billion inflows last year was the highest compared to Sh242 billion sent to the rest of eastern Africa — comprising Uganda, Tanzania, Rwanda, Burundi, South Sudan and Ethiopia.


Heshima to Kenyans in the diaspora. If only we could rid Kenya of the corrupt, inept leadership, nchi ingekuwa mbali sana.
 

Swansea

Village Elder
#3
$295 million a month? Is there a breakdown of this cashflow. Is it people collectively sending $100 here, $500 there, a K , or is this some big investors sending $1 million a day?
That quote up there was from the Business Daily, should have put the link.

https://www.businessdailyafrica.com...gh-in-June/3815534-5206332-tj48wtz/index.html

A remittance is normally defined as an electronic transfer minimum of $15.00.

Those figures are also tabulated on the Central Bank of Kenya website:

https://www.centralbank.go.ke/diaspora-remittances/
 

Simiyu22

Village Sponsor
#7
Could this explain partly why our shilling has been stable against USD as other currencies lose ground?
Thats a scary proposition
It is very strange that the shilling holds at exactly ksh 100 to the dollar. Why not 91 or 87 or 109. Is it an artificial(plastic) level? And the government is dealing with the IMF ( a lender of the last resort). If your borrowing is toast, you head to the IMF.
 
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Contractor

Village Elder
#9
The kenyan GOVT should ensure people abroad are well taken care of... (as in embassies are working as they should)

Especially the ladies who go to arab countries as house helps... (they should be well taken care of)

Ministry of labor should come up with a program where they export semi skilled labor (guards/machine operators/drivers/care givers etc) to other countries... Esp European countries..
 

Simiyu22

Village Sponsor
#11
The kenyan GOVT should ensure people abroad are well taken care of... (as in embassies are working as they should)

Especially the ladies who go to arab countries as house helps... (they should be well taken care of)

Ministry of labor should come up with a program where they export semi skilled labor (guards/machine operators/drivers/care givers etc) to other countries... Esp European countries..
You bring up a really good point. In the 2000s, the embassies were great places of help. You could reach out to them when in need. True they couldnt help most of the time. But at least point to a direction. Now though, no help. Nobody but rude fuckers pick up the phone.
 

Mjuaji

Village Sponsor
#13
You bring up a really good point. In the 2000s, the embassies were great places of help. You could reach out to them when in need. True they couldnt help most of the time. But at least point to a direction. Now though, no help. Nobody but rude fuckers pick up the phone.
Ruto's daughter is a mission head somewhere. Jijazie expectations.

90% of all embassy officials I've ever met are the worst type of Kenyans; entitled and clueless.
 
Y

Yunomi

Guest
#14
This is great news. Lakini hizi pesa huenda wapi because you would expect to see amazing mansions everywhere
 
K

Kimakia

Guest
#15
Diaspora remittances hit all-time high in June at Sh1bn a day
MONDAY, JULY 22, 2019 20:01
BY GEOFFREY IRUNGU

Diaspora inflows rose by more than a fifth in June to reach an all-time high, data from the Central Bank of Kenya (CBK) shows.
The remittances rose to Sh30.4 billion ($295.3 million) in June compared to Sh25.1 billion ($243.2) in May — indicating a 21.4 per cent change.
“The remittance inflows rose to an all-time high in June 2019 amounting to $295 million compared to $243 million in May,” said the CBK.
In the 12 months to June, the inflows increased to Sh285.4 billion from Sh251.4 billion, representing a 13.6-per cent growth.
“The 12-month cumulative inflows to June 2019 increased to $2,768 million from $2,438 million in the 12 months to June 2018, reflecting a 13.6 percent growth,” said the regulator.

The CBK data further shows most of the remittances came from North America, which accounted for 38 per cent of the total amount, while Kenyan European diaspora brought in 32 per cent. Other parts of the world brought in 30 per cent.
“North America, Europe and the rest of the World accounted for 38 percent, 32 percent and 30 percent, respectively, of the remittances in June 2019,” the CBK said.

Currently, Kenya tops in diaspora remittances in the eastern African region and the amount the country receives constitutes the single largest source of foreign currency ahead of major crops and tourism.
The World Bank recently reported Kenya’s Sh280 billion inflows last year was the highest compared to Sh242 billion sent to the rest of eastern Africa — comprising Uganda, Tanzania, Rwanda, Burundi, South Sudan and Ethiopia.


Heshima to Kenyans in the diaspora. If only we could rid Kenya of the corrupt, inept leadership, nchi ingekuwa mbali sana.
Niaje ghasia ya Trumpland.Hizi ni nini unaasema hapa.Summarize na sio tafadhali
 

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