Kenya faces first diaspora remittance decline in 17 years as inflows fall by Sh9 billion

Kenya is facing the possibility of its first annual decline in diaspora remittances since 2009 after inflows fell by Sh9 billion in the first seven months of 2026. Data from the Central Bank of Kenya (CBK) shows remittances stood at Sh368.75 billion during the period, as global inflation and conflicts continue to affect money sent home by Kenyans living abroad. The last full-year decline in diaspora remittances was recorded in 2009, when the volumes stood at $609 million, down from $611 million in 2008. Since then, remittance flows have recorded double-digit growth in most years, making them Kenya’s top foreign exchange earner ahead of tourism receipts, tea and horticulture exports. The money sent by Kenyans abroad also plays an important role in the country’s current account, which measures the balance between foreign exchange inflows and outflows.