NAIROBI, Kenya, Jan 20 – Kenyans abroad sent home Sh651.7 billion in 2024, marking an 18 percent increase of Sh98.4 billion compared to Sh543.3 billion received in 2023, according to the Central Bank of Kenya (CBK).
The growth was fueled by a strong inflow in December, where remittances hit Sh57.8 billion, up 5.2 percent from Sh54.9 billion in November.
“The United States remains the largest source of remittances, contributing 51 percent of total inflows in 2024,” CBK noted.
Remittances, alongside tourism and horticulture, rank among Kenya’s top foreign income sources, playing a vital role in supporting the current account and stabilizing the exchange rate.
Kenya earned Sh352.54 billion from tourism in 2023, driven by increased arrivals, while tea exports contributed Sh203.71 billion in the 2023/24 fiscal year, according to Kenya National Bureau of Statistics (KNBS) data.
