PREMIUM Kenya’s diaspora remittances fall Sh9bn amid global economic shocks Global inflation, Middle East tensions weighing on diaspora inflows. Business 19 min ago

9 billion), or six percent growth year-on-year, but it has now cut this to $5.75 billion in the first seven months of the year, raising the prospects of the first annual decline in 17 years as global inflation continues to affect flows from key source markets.

Before the war in Iran, the CBK had identified the changing labour landscape in Saudi Arabia as the biggest threat to growth of Kenyan diaspora dollars, with the Gulf country having risen to second place in the list of top source markets behind the US.