Kenyan Remittances Abroad: South Sudan Surpasses Britain
$284 million annually
Written by Ziad Abdel Fattah:
Recent survey results on remittances from Kenyans living abroad have revealed a remarkable rise inSouth Sudan As a major source of remittances to Kenyans, with annual remittances valued at approximately 284 million US dollars (equivalent to 36.8 billion Kenyan Shillings), surpassing those from the United Kingdom.
South Sudan: Kenya's Top Foreign Exchange Earner
The survey indicated that remittances from Kenyans residing in the UK recorded approximately $277 million (35.9 billion Kenyan Shillings) during the same period, placing South Sudan among the top sources of foreign exchange supporting the Kenyan economy.
The survey was conducted in collaboration between the Central Bank of Kenya, the Kenya National Bureau of Statistics, and FSD Kenya, as part of monitoring remittance flows from Kenyans abroad and their impact on the economy.
The United States is the largest source of remittances
In contrast, the United States of America maintained its position as the largest source of remittances from Kenyans abroad, totaling $3.1 billion USD (405.4 billion Kenyan Shillings).
South Sudan's remarkable progress reflects its growing importance as a destination for Kenyan labor and investments, with thousands of Kenyans working in vital sectors including trade, hospitality, construction, banking, humanitarian work, and professional services.
Major Kenyan financial institutions are also active in South Sudan, including “KCB Bank South Sudan” and ”Equity Bank South Sudan,” which reflects the strength of economic and trade ties between Juba and Nairobi, and the growing role these remittances play in supporting the Kenyan economy.
The report indicates that the continued flow of remittances from South Sudan strengthens its position as an important economic partner for Kenya, given the growing movement of labor and investment between the two countries.
