Diaspora forex inflows up 51 per cent in five months

Cash sent home by Kenyans in foreign countries for first five months of the year jumped 51.8 per cent compared to a similar period last year, buoyed by record flows in May.

Data from the Central Bank of Kenya shows diaspora remittances surged to $1.112 billion (Sh112.21 billion) in the January-May period from $732.70 million (Sh73.92 billion) in the same period 2017.