Kenyan Remittances Surged 45% to $84.9 Million in September

Remittances from Kenyans working abroad jumped 45 percent to $84.9 million in September, the highest monthly amount since at least 2004, the central bank said.

Kenyans sent home $643.8 million in the first nine months of the year, breaking the record $641.9 million for the whole of 2010, the Nairobi-based Central Bank of Kenya said in a statement on its website today. About half of the money came from North America, while Europe was the source of 28 percent, it said. East Africa’s biggest economy has recorded growth in remittances since the second half of 2010, based on the 12-month cumulative average, according to the statement.

The central bank collects the data from commercial banks and international money-transfer service providers, 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: Nasreen Seria at nseria@bloomberg.net

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