Kenyans Living Abroad On Remittances

By John Gachiri

Kenyans living abroad have asked the government to set up systems that will facilitate the multi-billion remittances sent home every year.

Diaspora remittances have grown in recent years to become Kenya’s  biggest source of foreign exchange after tourism and agricultural exports.

The Kenya Diaspora Alliance (KDA), an umbrella group for eight organisations that represent Kenyans abroad Thursday called on the government to establish offices in missions abroad to specifically deal with remittances.

“Tourism which brings Sh59 billion ($700 million) has five parastatals dedicated to it while Kenyans in the diaspora who bring Sh168 billion ($2 billion) do not even have one office in any ministry dedicated to them,” said KDA convener Shem Ochuodho.

A joint Central Bank of Kenya- World Bank survey last year established that Kenyans in diaspora sent home Sh159.6 billion ($1.9 billion) last year.

The money is mostly spent on consumption by friends and relatives, education and investment.

As such, more focus on on the biggest revenue source would yield better returns but so far not much has been done.

In an earlier interview, the Kenya Overseas Business Alliance, had proposed that embassies and consulate offices abroad act as receiving agents for the remittance, which would cut the cost of sending money back home.

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