Juba, South Africa rise fastest in remittances to Kenya

Photo credit: Design | Stanslaus Manthi | Nation Media Group

Diaspora remittances from South Sudan and South Africa recorded significant growth in the six months to June as more Kenyans continue seeking employment opportunities and study abroad particularly in the continent.

Data from Central Bank of Kenya (CBK) reveals that in the six months to June, Kenyans living in South Sudan wired $3.24 million representing 159 percent growth compared to $1.25 million in 2023.

South Africa recorded the second fastest growth at $10.24 million (95.7 growth), followed by Nigeria at $3.87(42 percent) and Tanzania $41.2 million (30.2 percent).

Notably, diaspora remittances from African countries grew by 37.3 percent to $183.8 million in 2024 from $133.9 million in 2023.

Similarly, inflows from Australia and Oceania posted remarkable growth at 80 percent, followed by Asia (24.2 percent), Europe (19 percent) and America (10.4 percent).

CBK Governor Kamau Thugge in a briefing in June said,” The US continues to be the main source of remittances, but remittances are now coming from many countries, and so that extent, they are resilient, so that when one country does not perform, others perform.”

The search for better job opportunities and pursuit of education remains the prime motives driving Kenyans abroad.

Australia, Canada and UAE are perfect examples of countries offering better opportunities for Kenyans.

Remittances from these countries grew by 85.9 percent,88.7 percent and 83.5 percent respectively to $76.3 million, $60.7million and $62.9 million.

This points to increased labour immigration to these nations.

On the flipside, inflows from Cote d'Ivoire, Zambia and Malawi recorded a significant drop in the period with the former posting a 37.4 percent reduction from $3.2 million last year to $2 million this year.

Regionally, in 2023, Kenya was the third largest recipient of remittances in US dollar terms in the sub-Saharan region, with Nigeria and Ghana leading.

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