Kenya's diaspora remittances declined by more than Sh1 billion in October, according to data released by the Central Bank of Kenya (CBK). The amount received during the month was lower than the $5.082 billion, or approximately Sh660.9 billion, recorded in the same period in 2025. The reduction marks a significant drop in the inflow of foreign currency from Kenyan citizens abroad.
The CBK reported that the decline in remittances reflects broader economic challenges facing the country. While the exact reasons for the drop were not specified, experts suggest that factors such as global economic conditions, currency fluctuations, and political instability may have contributed to the decrease. The decline comes amid ongoing efforts to stabilize the Kenyan shilling and attract foreign investment.
Remittances have long been a crucial source of foreign exchange for Kenya, contributing to the country's balance of payments and supporting various sectors of the economy. The drop in October is the second consecutive month of declining remittances, raising concerns among policymakers and financial analysts. The CBK has urged stakeholders to monitor the situation closely and implement measures to restore confidence in the financial system.
