Deputy President Kithure Kindiki has revealed that diaspora remittances have overtaken traditional exports such as tea and horticulture to become Kenya’s leading source of foreign exchange. Speaking in Windhoek, Namibia, on Saturday evening, Kindiki emphasized the crucial role of Kenyans living abroad in driving the country’s economic growth.
The event, which brought together Kenyan professionals and members of the diaspora in Namibia, focused on the government’s ongoing economic initiatives. Kindiki highlighted five key government strategies aimed at strengthening the economy and enhancing the livelihoods of Kenyans both at home and abroad.
“Diaspora remittances have become a cornerstone of our economy, surpassing even our traditional exports like tea and horticulture,” Kindiki stated. “This highlights the tremendous impact Kenyans abroad are having on our nation’s development. We are committed to creating an environment where the diaspora can continue to thrive and further contribute to our progress.”
According to the Central Bank of Kenya (CBK), Kenyans working abroad sent home a record-breaking $4.94 billion (Ksh.640.75 billion) in the fiscal year ending December 2024. This marks an 18% increase from the previous year’s remittances of $4.18 billion (Ksh.542.89 billion) and exceeded the CBK’s initial projections. The surge culminated in December 2024, when monthly remittances hit an all-time high of $445.4 million (Ksh.57.1 billion).
Although DP Kindiki did not provide exact figures in his speech, the steady rise in remittances over the past decade underscores the growing significance of Kenya’s diaspora community in national development. The increase is attributed to a large and dynamic Kenyan expatriate population spread across the globe.
During the Windhoek event, members of the Kenyan diaspora raised concerns regarding trade, immigration, and travel logistics. They urged the government to streamline these processes to facilitate better connections between the diaspora and their home country.
In response, Kindiki assured them that the government is taking proactive steps to enhance service efficiency and create more investment opportunities for Kenyans abroad. “We hear your concerns, and we are committed to addressing them. We understand the unique challenges you face and are dedicated to providing more efficient services to support your contributions,” he affirmed.
