Kenyan Remittances Climb to $52.7 Million

Jun 14, 2010

Remittances sent by Kenyans back home rose to $52.7 million in April, a 9.6 percent increase from 2009.

“The pick-up in April 2010 can indirectly be attributed to improving economic conditions in the regions of origin and improved prospects for economic recovery at home,” reported a statement released by the Central Bank of Kenya.
Remittance patterns have remained consistent, with North America and Europe providing 82 percent of remittance flows to the East African country.
Remittances rank among the country's top sources of foreign exchange alongside tourism, tea and horticulture.