Diaspora Remittances Hit Record High as Kenyans Abroad Send Home Sh58.1bn in March

Money sent home by Kenyans living abroad rose to an all-time monthly high in March, underscoring the growing economic importance of diaspora earnings amid global uncertainty.

Data from the Central Bank of Kenya shows that remittance inflows reached $450.3 million, equivalent to about Sh58.14 billion, during the month.

This represents a 9.1 per cent increase compared to February’s inflows of $412.7 million (Sh53.28 billion), marking a sharp month-on-month rise.

The figure also surpassed the previous record of $440.1 million (Sh56.82 billion) recorded in May 2025, setting a new peak for monthly diaspora inflows.

Over the 12 months to March 2026, total remittances grew to $5.079 billion (Sh655.75 billion), up from $4.972 billion (Sh641.93 billion) recorded in the previous year.

The Central Bank noted that remittances continue to play a stabilising role in Kenya’s economy, particularly in supporting foreign exchange reserves and household incomes.

Analysts attribute the latest surge partly to increased precautionary transfers by Kenyans abroad, especially amid concerns over geopolitical tensions in key labour destination regions.

Despite external risks, diaspora inflows remain a vital financial lifeline for many households, reinforcing Kenya’s reliance on its overseas workforce as a steady source of foreign exchange.