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

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.

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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