Kenya’s Diaspora Remittances Surpass Sh500 Billion as Top Foreign Exchange Earner

Deputy President Kindiki announced that diaspora remittances have now become Kenya’s primary source of foreign exchange, exceeding Sh500 billion. He emphasized the commitment of the current administration to increase this figure to one trillion shillings. The Deputy President assured Kenyans in Namibia of the government’s dedication to addressing their concerns, while recognizing their crucial role in national development.

Deputy President Kithure Kindiki has announced that diaspora remittances have become Kenya’s leading foreign exchange earner, surpassing Sh500 billion. During a meeting with Kenyans in Namibia, he acknowledged the significant contributions of the diaspora in supporting sectors such as tea and tourism historically recognized for generating foreign exchange revenues.

Kindiki expressed gratitude towards the diaspora community, noting, “We thank you for what you’re doing for our country… Remittance is now scaling up, I think it’s past Sh500 billion now.” He indicated that the current government’s goal is to increase remittances to at least one trillion shillings.

The Deputy President emphasized the vital role of the diaspora in national development, stating, “Our target, of course, in the manifesto of Kenya Kwanza is to get a trillion remittances.” He assured attendees that the administration holds the diaspora in high regard due to their contributions.

During the meeting, several issues were raised by Kenyan professionals in Namibia, including immigration and trade concerns. In response, Kindiki reaffirmed the Kenya Kwanza administration’s commitment to addressing these challenges expeditiously. “I want to assure you will resolve them in the shortest possible time,” he stated.

Kindiki met with representatives of the Kenyan community following the funeral of Namibia’s founding President, Sam Nujoma, where he represented President William Ruto.

In conclusion, Deputy President Kindiki highlighted the increasing significance of diaspora remittances as Kenya’s top foreign exchange source, aiming for a trillion shillings in the future. His administration is dedicated to resolving challenges faced by Kenyans abroad and appreciates their contributions to national development. The remarks reflect a renewed commitment to engage with and uplift the diaspora community.

Original Source: www.the-star.co.ke