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Diaspora remittances decline by Sh2.2b in April

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Money coming in from Kenyans living and working abroad dropped by Sh2.2 billion in April to total $208.2 million (Sh22.3 billion).
This is compared to Sh24.5 billion received in March, according to the latest data from the Central Bank of Kenya (CBK). It was the lowest monthly remittance since February last year when Kenyans overseas sent back home $199 million (Sh21.2 billion at today’s exchange rate).
However, the cumulative inflows in the 12 months to April were higher at $2,801 million (Sh299 billion) compared to $2,750 million (Sh294 billion) over a similar period last year.
“Remittance flows from the US and Canada (contributing about 58 per cent of all remittances in April) remained largely unchanged from March, while inflows from UK, Germany, South Africa, EAC region, United Arab Emirates and Saudi Arabia declined, reflecting the impact of Covid-19,” said CBK in its weekly bulletin.
CBK expects the Covid-19 pandemic which has disrupted economic activities around the world, to curtail the remittances, which have recently been critical pillars of the country’s exchange rate.
Foreign exchange
In March, diaspora remittances generally went up but inflows from South Africa, the United Arab Emirates, Mauritius and Oman declined, reflecting the impact of the coronavirus disease on a critical source of foreign exchange for the country.
Nearly 40 million people in the US have filed for unemployment as Covid-19 wipes out livelihoods in the world’s largest economy, and where a lot of Kenyans live and work. So far, remittances from these regions have continued to flow in steadily. However, the tide of money from North America and Europe will not last forever as the pandemic hits these regions hard.
An article by CNBC showed that 70 per cent of companies in Dubai expect to go out of business in the next six months, a situation that would affect a lot of Kenyans working in the Gulf states.
Economists have noted that most Africans in the diaspora are employed in jobs that do not have safety nets, and are not eligible for the welfare cash that a lot of industrialised countries have provided for businesses and households in distress.
Currently, most of those abroad might have raised their remittances due to increased distress calls from relatives and friends back home who are feeling the heat of the pandemic.
Many Africans working overseas have either been laid off or sent on unpaid leave and are now living on their savings. Diaspora remittances have become Kenya’s key source of foreign exchange reserves, more than even tea, coffee and tourism.
In the region, the World Bank expects diaspora remittances to decline sharply.
Expected to drop
“In 2020, remittance flows to low- and middle-income countries are expected to drop by around 20 per cent to $445 billion (Sh47.6 trillion), from $554 billion (Sh59.2 trillion) in 2019,” said the global lender in a new report on remittances and migration.
“In the midst of this sharp decline, the relative importance of remittance flows as a source of external financing for low- and middle-income countries is expected to rise.” Nigeria remains the largest recipient of remittances in sub-Saharan Africa and is the sixth-largest beneficiary among low- to middle-income countries, with an estimated amount of $23.8 billion (Sh2.5 trillion) received in 2019, an increase of more than half a billion dollars compared to 2018.
Ghana and Kenya are ranked a distant second and third in the region, with $3.5 billion (Sh374 billion) and $2.8 billion (Sh299 billion) received, respectively.

READ ALSO:   Over 66pc of diaspora cash targets mothers back home
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Diaspora

Deep-Dive Analysis: Studying Master’s At Florida Institute Of Technology

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BY BOB MWITI,

Have you ever wondered what it takes to study your master’s in America?. Well, in this episode of Success With Bob Mwiti Show, I take a deep-dive analysis of taking your master’s at Florida Institute Of  Technology. If you like my work, please subscribe to my YouTube channel.

A Little Bit About Me!

I am a former international student in USA and I am a senior IT consultant in the areas of Oracle EBS Financials and Robotics Process Automation (RPA) here in USA. I am the programs director of Appstec America – A consulting company based in Tampa, Florida, USA.

I’ve been blessed to have learned a lot in my career as an IT consultant. My life has truly changed, and I’ve made it my mission to give back and serve others beyond myself. Whether that be helping you to relocate to USA as an international student, train you as an IT consultant, help you start and build your own online business, creating your financial freedom, motivating you to pursue your goals and dreams, to being more productive, to inspiring you to constantly improve yourself.

My mission is to get you to wake up to the unlimited potential within you and achieve what you’re truly capable of through my various self-development training programs.On the internet, I openly and passionately share my life experiences and all of the very best concepts, strategies, tools, and resources that I continue to discover that have made a measurable difference to my life, and will do for you as well.

READ ALSO:   Over 66pc of diaspora cash targets mothers back home

Keep your dream alive and never give up! To learn about my company’s amazing programs, please go to;

www.appstecamerica.com or www.successwithbobmwiti.com

Contact me at;
success@successwithbobmwiti.com
info@appstecamerica.com
+1 813-573-5619 ext 402

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Diaspora

Deep-dive Analysis: Studying Master’s At University Of South Florida

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BY BOB MWITI,

Have you ever wondered what it takes to study your master’s  in America?. Well, in this episode of Success With Bob Mwiti Show, I take a deep-dive analysis of taking your master’s at the University of south Florida. If you like my work, please subscribe to my YouTube channel.

A Little Bit About Me!

I am a former international student in USA and I am a senior IT consultant in the areas of Oracle EBS Financials and Robotics Process Automation (RPA) here in USA. I am the programs director of Appstec America – A consulting company based in Tampa, Florida, USA.

I’ve been blessed to have learned a lot in my career as an IT consultant. My life has truly changed, and I’ve made it my mission to give back and serve others beyond myself. Whether that be helping you to relocate to USA as an international student, train you as an IT consultant, help you start and build your own online business, creating your financial freedom, motivating you to pursue your goals and dreams, to being more productive, to inspiring you to constantly improve yourself.

My mission is to get you to wake up to the unlimited potential within you and achieve what you’re truly capable of through my various self-development training programs.On the internet, I openly and passionately share my life experiences and all of the very best concepts, strategies, tools, and resources that I continue to discover that have made a measurable difference to my life, and will do for you as well.

READ ALSO:   Kenyans abroad sent home Sh67.16 billion in the first three months of 2019

Keep your dream alive and never give up! To learn about my company’s amazing programs, please go to;

www.appstecamerica.com or www.successwithbobmwiti.com

Contact me at;
success@successwithbobmwiti.com
info@appstecamerica.com
+1 813-573-5619 ext 402

Continue Reading

Diaspora

Kenyan man goes missing in US, police ask for help in the search [VIDEO]

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LAWRENCE, MASS. (WHDH) – Lawrence police are seeking the public’s help in their search for a missing man, officials said.

Daniel Mwangi, 31, has been reported missing, officials said on Thursday last week October 8 2020,he had previously complained of a headache and was advised to see a Doctor

The last day he was active on Facebook was Friday after which all his electronic devices went off

Anyone with information is asked to call the Lawrence Police Department at 978-794-5900

Anybody with information of Daniels’s whereabout is requested to contact:

Joseph #617 256 9043, Diana #781 475 7420, Pastor Karanja #617 784 5729

or call the Police Department nearest to you.

 

READ ALSO:   Kenyans abroad sent home Sh67.16 billion in the first three months of 2019
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