The Central Bank of Kenya (CBK) in collaboration with the Kenya National Bureau of Statistics and Ministry of Foreign Affairs is conducting an online survey on Kenyans living abroad. The survey began on 19th March and ends on 17th May 2021.
The main objective of the survey is to collect valuable information to improve the quality of remittance statistics and guide policy on harnessing remittances for economic development, and address challenges facing remitters.
According to CBK Governor Patrick Njoroge, the findings of survey will improve the quality of remittance statistics and guide policy on harnessing remittances for economic development, and address challenges facing remitters
Remittances are funds sent by a person in a foreign land to their home country.
According to data from CBK, Kenyans abroad sent to the motherland a record Ksh. 28.6 billion ($260.2 million) in February which was a 19 per cent increase from the previous remittance of Ksh.24.1 billion ($219 million).
Cumulatively, the remittances have now grown by 11.4 per cent across the last 12 months to Ksh.351.5 billion ($3.2 billion) from a lower Ksh.307.6 billion ($2.8 billion) in the preceding year.
The continued rise of the diaspora dollar-flows represents the growing importance of the dispatches to Kenya’s domestic economic stable.
The survey by CBK is focusing on the efficiency and cost of remittance channels, the difficulties encountered in remitting cash or non-cash transfers, the use of remittances received and the availability of information on investment opportunities in Kenya.
The link to the Survey is HERE