Kenyan diaspora remittances flat at US$3.769bn in nine months; North America inflows fall 11.19%

Kenyans abroad sent home US$3.769 billion (KSh 489.22 billion) in the first nine months of 2026, against US$3.774 billion in January–September 2025, according to Central Bank of Kenya (CBK) data tallied by Business Daily on 18 October 2026. The 0.14% dip left the total flat: a fall in money from North America cancelled out gains from Europe and the rest of the world.

CBK publishes the figures monthly on its diaspora remittances page. They come from a monthly survey of remittance inflows through formal channels, which include commercial banks and other authorised international remittance service providers in Kenya. The latest month on the page is September 2026.

Inflows from North America, mostly the United States, fell 11.19% to US$1.946 billion, a loss of US$245.2 million. In September alone, North America sent US$215.47 million, against US$245.86 million in September 2025.

Europe went the other way. Inflows rose 16.87% to US$798.4 million in the nine months. Inflows from the rest of the world rose 13.86% to US$1.025 billion (KSh 133.05 billion), from US$899.8 million (KSh 116.79 billion).

Total inflows in September 2026 were US$438.55 million, compared with US$419.63 million in September 2025. August, at US$451.85 million, was the largest month of 2026; June, at US$375.60 million, was the smallest.

A US levy of 1% on certain money transfers abroad took effect on 1 January. Business Daily said the data do not show how much of the fall in US inflows is due to the levy.

The weakness in US inflows began earlier in the year. Business Daily reported on 2 September 2026 that US remittances fell 12.6% to US$1.178 billion in the six months to June, from US$1.348 billion a year earlier. The US share of Kenya's total fell to 48.24% from 53.51%, the first time below 50% since CBK began publishing a country-by-country breakdown in 2019. The paper linked the slowdown to the war involving Iran, which disrupted economic activity in Gulf countries such as Saudi Arabia, where thousands of Kenyans work, and fuelled inflation in the US.

CBK Governor Kamau Thugge flagged the US slowdown in a presentation after the Monetary Policy Committee meeting on 8 October. "Remittance inflows remained resilient in the 12 months to August 2026," he said, as quoted by Business Daily. "Nevertheless, the remittance inflows slowed down, mainly reflecting reduced inflows from the USA and Saudi Arabia."

Saudi Arabia has introduced labour-market reforms meant to raise employment among its own citizens, the paper said. It also cited higher US inflation and economic uncertainty from the war, and wrote that weaker remittances could reduce the foreign currency coming into the economy, pressuring the shilling against the US dollar.

CBK now projects remittances to grow by 0.7% this year and 3% in 2027. On 12 August, Thugge said the forecast for this year had been revised down from 1.5%.