By Ebimo Amungo
Kenyan immigrants in the United States remain the leading source of remittances to their home country. This is according to the Central Bank of Kenya. A report in CBK’s weekly bulletin noted that diaspora remittances hit an all-time high in 2024, reaching US$4.95 billion. Fifty-one percent of the total inflows was made by Kenyan immigrants in America.
By New Business Ethiopia
During the first five months of the budget year of the country started July 8, 2020, the Government of Ethiopia has secured $1.4 billion remittances from the Ethiopian diaspora who used legal banking channels to send money to their relatives. When the year ends, the east African country expects to get $4 billion hard currency from its diaspora.
Continue reading “Ethiopia secures $1.4 billion remittance from diaspora –”
By John Wanjohi | Mwakilishi.com
Kenyans living and working in North America defied the Covid-19 pandemic to send home a whopping $145.95 million (Sh15.7 billion) in May.
This is the highest ever amount of money received from the region that includes the US, Canada, and Mexico in a month, according to data by the Central Bank of Kenya (CBK).
Continue reading “Remittances from Kenyans in North America Reach All-Time High”
By North Africa Post
The coronavirus pandemic and its economic consequences in host countries will have a negative impact on migrants’ money transfers to Africa, which are expected to fall sharply in 2020, according to World Bank experts.
Continue reading “COVID-19: African diaspora’s remittances to drop in 2020”
By Meghan McCormick |Forbes
Global remittances to Sub-Saharan Africa (SSA) grew by 10% to $46B in 2018 (the last year for which we have complete data from the World Bank). Remittances, or money sent as a gift typically from family members working in a high-income country to family members living in low- or middle-income countries, are an important part of the global economy. They account for more transfer of funds to SSA than aid from the top 10 donor countries and institutions. The money sent to Africa through remittances is actually larger than many African-country GDPs. Remittances would be the 12th most productive economy in SSA, just behind the Democratic Republic of the Congo and ahead of Côte d’Ivoire.
Continue reading “The African Diaspora Network Gives Africans Living Abroad A Pathway To Invest At Home”
Egypt received about $3 billion in remittances from Egyptians living abroad in May, up 43% from $2.1 billion in April, the Egyptian Central Bank said on Monday.
Egypt received $2.6 billion in remittances in May 2018, the statement said. Remittances are a key source of foreign currency for Egypt.
(Reporting by Ehab Farouk, Writing by Nafisa Eltahir, Editing by Andrew Heavens)
Kenyans living abroad sent almost $2 billion (Sh200 billion) to their families and others in their homeland in 2017, a US data-analysis group said.
