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Diaspora remittances lose steam on Iran war fallout
Diaspora remittances remain one of Kenya's largest and most reliable sources of foreign exchange, supporting household consumption, education, healthcare, housing and small business investment while helping finance imports and underpin the shilling.
Kenyans living and working abroad cut the amount of money sent back home by $29.1 million (about Sh3.77 billion) in the first five months of 2026, marking the first drop since 2023.
Official numbers captured by the Central Bank of Kenya show diaspora remittances fell to $2.066 billion between January and May from $2.095 billion over the same period last year, ending two consecutive years of growth.
