Bloomberg News

Kenya’s Overseas Remittances Rose 33% in May From a Year Ago

June 28, 2011

(Updates with the year-to-date remittances in the second paragraph.)

June 28 (Bloomberg) -- Kenyans living abroad sent home $68.1 million in May, up 33 percent from a year earlier, as the global economy picked up, the central bank said.

Remittances to the East African nation in the five months through May increased to $334.7 million from $247.7 million a year earlier, the Nairobi-based Central Bank of Kenya said in a statement on its website today.

Kenyans living in North America accounted for 51 percent of the remittance flows in May, while Europe represented 29 percent, it said.

--Editors: Philip Sanders, Karl Maier

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.


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