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CBK cuts projection of diaspora remittances by Sh40bn
At the beginning of the year, the CBK had a higher growth projection of 6 percent for 2026, putting the expected inflows at $5.42 billion (Sh699.9 billion) for the year.
The Central Bank of Kenya (CBK) has cut its projection of diaspora remittances for 2026 by Sh40 billion ($313 million) on expectations of lower inflows from the Middle East due to the war in Iran and recently introduced transaction taxes in Saudi Arabia.
CBK Governor Kamau Thugge said that the apex bank is now anticipating inflows of $5.1 billion (Sh659 billion) this year, which would represent a 1.4 percent increase compared to the $5.04 billion (Sh651 billion) Kenyans sent home in 2025.
