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Saudi remittances fall over permit rules
The Gulf kingdom had rapidly risen from a relatively minor remittance source a decade ago into one of Kenya’s top foreign exchange contributors from diaspora earnings.
Kenya’s remittance inflows from Saudi Arabia have collapsed by more than half following the Gulf nation’s rollout of a skills-based foreign worker permit system that has disrupted earnings and cash transfers from thousands of Kenyan migrants.
Central Bank of Kenya (CBK) data shows inflows from Saudi Arabia fell to $46.98 million (Sh6.1 billion) in the January–March period from $98.67 million (Sh12.8 billion) in a similar period last year.
