Remittances from Saudi Arabia to Kenya surge 30 per cent to US$246 million

News published on Oct 13, 2023 @ 9:25 am

Remittances from Saudi Arabia climbed 30.28 per cent to reach US$246 million in the first eight months of 2023, compared to US$188.8 million in the same period last year, according to the Central Bank of Kenya data.

The Middle East’s largest economy continued to grow at the fastest pace amongst top global sources, Business Daily reported, citing the data.

Saudi Arabia has surpassed the UK to become the second largest source, contributing 62.3 per cent of the US$91.79 million growth in total inflows.

Topic
Remittance families and development
Focus Region
Africa
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