Remittances drive sub-Saharan Africa’s financial inclusion

BSDIASPORASENDING

Visa has introduced sub-Saharan African consumers to a global financial network of billions of users. FILE PHOTO | POOL

Remittances from Kenyans in the diaspora are a vital source of funds for many families around the world and are an area of payments where, for all parties involved, time is of the essence and every cent counts.

Low- and middle-income countries make up the bulk of receivers of these inflows – representing $605 billion of the total $773 billion of incoming remittances in 2021, according to the World Bank.

PAYE Tax Calculator

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