The Central Bank of Kenya (CBK) has revised the outlook for diaspora remittances from an annual dip of 12.3 percent to a growth of one percent, buoyed by the recovery in the last two months despite Covid-19.
CBK governor Patrick Njoroge said Thursday in a post- Monetary Policy Committee meeting brief that that the strong recovery, especially in June, shows that 12-month remittances are likely to grow by at least one percent from last year’s Sh301.2 billion ($2.796 billion).
