Diaspora remittances dropped by approximately Ksh1 billion in October 2026 compared to the same month last year, even as global tensions continue to impact the crucial cash flow to the Treasury.
Data from the Central Bank of Kenya (CBK) shows that remittance inflows stood at Ksh55.95 billion in October, down from approximately Ksh57.03 billion recorded in October 2025.
In its weekly bulletin on November 13, CBK reported that remittance inflows totalled USD430.5 million in October 2026, compared to USD438.8 million during a similar period last year.
The decline represents a reduction of about Ksh1.08 billion, equivalent to 1.9 per cent, in the amount sent home by Kenyans living and working abroad.
A deeper look into the data revealed that the 12-month cumulative remittance inflows to October 2026 also declined, falling by 1.1 per cent to USD5.023 billion (Ksh653.2 billion) from USD5.082 billion (Ksh660.9 billion) recorded over the same period in 2025.
This represents a drop of about Ksh7.67 billion from the approximately Ksh660.9 billion received during the preceding 12-month period.
Despite the decline, CBK maintained that money sent home by Kenyans abroad remains an important source of foreign exchange for the country.
"Remittance inflows remain a key source of foreign exchange earnings and continue to support the balance of payments," CBK stated.
