Germany beats Saudi as fast-growing dollars source

Kenya Diaspora Alliance Global chairperson Shem Ochuodho. FILE PHOTO | NMG

Kenyans in Germany have overtaken Saudi Arabia to become the fastest-growing source of dollar inflows among the top five global markets for remittances, the latest official data shows, on easing inflation pressures.

Citizens working in Europe’s largest economy wired home $148.19 million (Sh 22.71billion) in the first 10 months of the year, nearly half more than $101.76 million (Sh15.59 billion) last year, according to data tracked by the Central Bank of Kenya.

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