Africa News: Kenya (KES USD) Remittance Payment Drop on Covid-19

Kenya’s biggest source of foreign currency slumped last month, with the central bank indicating that shocks caused by the coronavirus will have a greater impact on the economy for the rest of this year.

Kenyans living outside the country sent home $208 million in April, about 9% less than they did in March, according to data from the central bank. It expects those so-called remittance payments to fall as much as 15% for the whole of this year.

Transfers dried up from nations in Europe, the Middle East and…

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About Author: integral
A free-thinking individual who strives to maintain psychological balance between the two polar aspects of Human Nature; Desire and Conscience. However, These conditions can never be balanced because inertia will carry us to extremes. Balance is a constant struggle therefore I live by the principles of the HERU Interface