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Tuesday

27 July 2021

Kenyan Remittances Surged by 20% in H1, North America and Europe-Based Diaspora Contribute Over 80% – Emerging Markets Bitcoin News

Kenyan Remittances Surged by 20% in H1, North America and Europe-Based Diaspora Contribute Over 80% – Emerging Markets Bitcoin News


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At this growth rate, Kenya’s 2021 remittances inflows appear on course to surpass the 2020 total of just over $3 billion.

For instance, in the first month of 2020, the North American diaspora’s share of total remittances was about 48% or approximately $125 million out of a total of $259 million.

In fact, in the sixth month, North America’s share of total remittances increased slightly to 61.9%.

However, unlike North America whose share of total remittances increased in the sixth month, Europe’s share dropped to 20.5%.

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