The central bank of kenya has reported a significant increase in diaspora remittances for September 2024 which totalled Ksh54 billion. This makes a substantial growth compared to Ksh44 billion received in September 2023. The announcement made at the Africa banker award 2024 underscores the continued importance of remittances as a key economic support for the country.

Global remittances play a very crucial role in Kenya’s economy, providing essential support to households, education, healthcare and other critical sectors. The increase reflects both the resilience and trust of kenya diaspora in contributing to the nations economic growth, despite global economic challenges.

This growth also indicates that CBK’s success in promoting inclusivity and maintaining favourable conditions for Abroad kenyans to send money home.