Further Increases in Kenyan Remittances

The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorized international remittances service providers in Kenya.

In February 2014, remittances to Kenya increased by 8 percent from USD 102.4 million in February 2013 to USD 110.42 million. The 12 month cumulative remittance inflows also increased by 10.5 percent from USD 1,183 million in February 2013 to USD 1,307 million in February 2014 . Consequently, the 12 month cumulative average remittance flows sustained an upward trend to peak at USD 109 million from an average of USD 99 million, over the review period.

Remittances inflows from all regions remained resilient, with North America accounting for 48.6 percent of total inflows amounting to USD 54.6 million in February 2014. Inflows from Europe accounted for 27.7 percent and increased marginally to USD 29.9 million, while inflows from the rest of the world amounted to USD 25.9 million, with a share of was 23.8 percent

Read the full report here.

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