Kenya Remittances From US Fall 12.4% Through August
Kenyans abroad sent US$5.01 billion home in the year to August, down 1.3%. US inflows fell 12.4%, while Europe and the UAE grew strongly. The post Kenya Remittances From US Fall 12.4% Through August appeared first on The Rio Times .
Kenya's remittances from the United States fell by 12.4% through August 2026, according to the Central Bank of Kenya (CBK). The main reason for the decline is a decrease in money sent by Kenyans living in the US and Saudi Arabia. The US accounts for nearly half of the money sent by Kenyans abroad. In the first eight months of 2026, remittances from the US dropped from US$1.82 billion to US$1.59 billion, a decrease of US$226 million, or 12.4%.
Saudi Arabia also saw a significant drop, with inflows halving to US$110 million from US$234 million, a decline of 53%. Other sources like Europe, the UK, the UAE, Africa, and Australia have partially compensated for this decline. The US share of inflows dropped to 47.8% from January to August 2026. Despite the drop in US remittances, Kenya's overall remittance inflows remain stable at US$5.01 billion for the 12 months ending August 2026, compared to US$5.08 billion in the previous year.
The CBK expects the current account deficit to widen to 3.1% of GDP in 2026 due to factors like a larger trade gap and lower secondary income transfers.
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