Kenya’s remittances rise 12% in March: central bank

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Nairobi –  Kenyans living abroad sent $141.1 million in March, a 12 per cent rise when compared with the same month in 2015, the central bank said.

The bank said in a statement on its website on , the was 3 per cent higher than that sent in February.

Also known as remittances, the money is a leading source of foreign exchange for east Africa’s biggest together with tea, horticulture and tourism.

Kenyans abroad usually send money to help their families and to invest in government securities and in like real estate. (Reuters/NAN)