Diaspora remittances defy inflation hit Sh453bn

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The Central Bank of Kenya in Nairobi. FILE PHOTO | NMG

Kenyans living abroad defied global inflation and the ripple effects of Russia’s invasion of Ukraine to send home a record high of Sh453.6 billion to family and friends in the eleven months to last November.

The remittances have more than doubled since a similar period in 2017 when Kenyans living abroad sent home Sh215.4 billion, according to Central Bank of Kenya (CBK) data.

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Note: The results are not exact but very close to the actual.