ICT

Kenyan Diaspora Leads Digital Mobile Remittances- WorldRemit Data

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According to data released by WorldRemit, of over the 65, 000 international money transfers to Kenya every month 93 per cent go to mobile money service M-Pesa.

The online service that enables money transfers from the WorldRemit app or website says that the Kenyan Diaspora is now the biggest sender of digital remittances to mobile accounts.

“Kenya is famed for leading Africa’s digital transformation and today it is Kenyans abroad who are at the forefront of digitizing international money transfers,” Ismail Ahmed, Founder and CEO, WorldRemits says.

In January 2017, Kenyans abroad sent more than $140 million to Kenya with the biggest chunk remitted from the UK, Australia, US, Germany, Canada and Nordic countries.

With an estimated three million Kenyans living abroad, remittances are a big contributor to the country’s economy. According to the Central Bank of Kenya, inward remittances to Kenya stood at a record value of just under $161 million in November 2016.

M-Pesa, which turns a decade this year, has been instrumental in the growth of WorldRemit’s Kenyan customer base.

WorldRemit is now connected to more than a fifth of all mobile money accounts globally and accounts for 74 per cent of all international remittances to mobile money accounts.

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