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Australia beats Germany, Saudi Arabia in remittances
Fresh CBK data shows the remittances for January showed signs of a slowdown, growing a modest 3.63 percent year-on-year to $427.38 million (about Sh55.13 billion).
Australia overtook Germany and Saudi Arabia to become the fastest-growing source of diaspora remittance in 2024 as dollar flows from Kenyans abroad rebounded from a two-year slowdown.
Kenyans in Australia sent home $184.13 million (about Sh23.75 billion) in the year ended last December, official numbers showed on Wednesday, a 2.57 percent climb over $106.70 million (about Sh13.76 billion) in the prior year.
