Diaspora remittances drop by Sh1.5 billion on US slowdown

The slowdown in the US economy has opened an Sh1.5 billion hole in the flow of remittances into Kenya in the first half of the year.

Fresh data from the Central Bank of Kenya (CBK) shows total diaspora remittances fell by 0.5 percent to Sh287.7 billion ($2.033 billion) in six months to June from Sh289.2 billion ($2.044 billion) a year earlier.