The World Bank says remittance flows to Kenya and Ethiopia from the diaspora has significantly increased compared to the rest of Sub-Saharan Africa.
The Central Bank of Kenya says the 12-month cumulative inflows from the diaspora to August increased by more than 9 % to 1.5 million dollars, from the 1 million dollars it recorded in the same period last year.
The National Bank of Ethiopia says the official receipt of remittances hit one and half billion dollars about 88 % jump over its value in the previous year.
Global remittances sent home from some 250 million migrants are projected to grow by about one percent to $ 588 billion.
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Kenya and Ethiopia Buck the Trend for Africa’s Drop in Inflows