Saturday, 23 October 2010

KENYA: Billions received as diaspora remittances increase

NAIROBI (Xinhua) -- Kenya received U.S. $1.9 billion dollars in remittances from the Diaspora over the past year according to a World Bank-sponsored study.

The study which was released in Nairobi on Tuesday Diaspora remittances have grown steadily over the last five years, providing support for Kenyans with relatives working abroad, while also boosting the country’s real estate and stock market.

The World Bank study says about 2.6 million Kenyans or 14 per cent of the adult population regularly receive an average of U.S. $750 dollars a year from their relatives residing abroad.
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