Diaspora remittances fall for third straight month

Kenya’s diaspora remittances have continued to grow with projections indicating a new record high for 2023. FILE PHOTO | POOL

Cash from Kenyans abroad fell for the third straight month in April, underlining the continued contraction of key foreign exchange inflows.

The Central Bank of Kenya (CBK) data shows the remittances fell by 9.8 percent to Sh44.1 billion ($320.3 million) from Sh48.8 billion ($355.04 million) in April 2021.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.