Foreign workers in Kenya remitted home Sh91 billion - CBK
In contrast, thousands of Kenyans continue leaving the country in search of employment and higher wages, particularly in the UK, the US, Canada, and Saudi Arabia.
Foreign workers in Kenya sent home a record Sh91.84 billion in 2024, highlighting their growing earnings even as many Kenyans left the country looking for better opportunities abroad.
According to data from the Central Bank of Kenya (CBK), this amount rose 5.58 per cent from Sh86.99 billion in 2023, marking the fifth consecutive year of increasing remittances abroad.
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The pace of growth, however, was slower than the 24.3 per cent recorded in the previous year. CBK noted that most transfers were sent to countries within the East African region using digital channels and the 21 licensed money transfer providers across Kenya.
“Digital channels are the most popular mode of transfers due to ease of access and speed of delivery of funds to beneficiaries,” the bank stated in its recently released banking sector supervision report.
The growing outflows reflect an increasing number of foreigners choosing Kenya to improve their financial positions.
In contrast, thousands of Kenyans continue leaving the country in search of employment and higher wages, particularly in the UK, the US, Canada, and Saudi Arabia.
The Ministry of Foreign Affairs estimates the Kenyan diaspora at four million by the end of 2023.
Meanwhile, remittances coming into Kenya from citizens working abroad continued to rise, reaching a record Sh440.18 billion in 2024, up from Sh362.91 billion in 2023.
On average, this means that for every shilling sent out, five shillings were sent in.
CBK figures for outflows may not capture the full picture, as informal cross-border remittances remain common, especially within the East African Community.
The 2022 Financial Sector Deepening Kenya survey indicated that 70 per cent of transfers between Kenya and countries such as Tanzania and Uganda occur through informal channels.
The trend underscores Kenya’s growing role as a financial hub for foreign workers while also reflecting the continued mobility of its citizens seeking opportunities abroad.
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