It marks the sharpest January-to-June contraction since 2009, when the global financial crisis triggered widespread job losses in advanced economies and caused remittances to Kenya to fall by...
By
Constant Munda
Correspondent
Nation Media Group
Money sent home by Kenyans living and working abroad recorded its steepest first-half decline since the aftermath of the 2008 global financial crisis, reflecting the impact of geopolitical tensions in the Middle East, a new US tax on outbound money transfers and tighter labour policies in Saudi Arabia.
Declining diaspora remittances, driven by global conflict, inflation and job losses abroad, are squeezing Kenyan households…
The latest downturn mirrors the 2023 decline, when remittances in the review period contracted 1.8 percent as elevated global…
A decline in diaspora remittances, driven by Middle East conflict and rising living costs abroad, is deepening financial pressure…
The African Development Bank says East African governments should better harness diaspora remittances as growth slows and…
Findings mark a sharp shift from historical trends when Britain was Kenya’s dominant migration destination outside Africa and the…
Rather than remitting money to family members to invest on their behalf, many diaspora clients pay developers directly through…
