KENYANS IN DIASPORA SEND OVER 24B THROUGH WORLDREMIT MONEY TRANSFER IN JUNE YEAR 2022

Kenyans in diaspora send back over 24b through worldremit money transfer system. PHOTO / CORRESPONDENT

Kenya is one of our top 3 markets in Africa, WorldRemit says.

“The London based global payments company released data showing the amounts its users globally sent this year to different countries around the world as of June 1st”

By African Times News Media

Kenya is among the top 3 countries in

Africa where WorldRemit users globally

send money to. In data shared with

newsrooms globally to mark International

Day of Family Remittances, the London-

based global payments company noted it

had processed transactions to Kenya

worth 170 million GBP (Sh24.47 billion)

as of June 1st, 2022. This figure puts

Kenya at par with Zimbabwe and second

only to Nigeria, where WorldRemit users

globally sent 270 million GBP (Sh38.86

billion) over the period under view.

The full ranking, which looks at send

volumes on the WorldRemit app and

website for the first six months of

2022, is as follows.

1.Nigeria – 270 million GBP (Sh38.86

billion).

2. Kenya & Zimbabwe – 170 million

GBP (Sh24.47 billion)

3.Ghana – 140 million GBP (Sh20.87

billion)

4.Uganda – 100 million GBP (Sh14.39

billion)

5.Cameroon – 75 million GBP (Sh10.79

billion)

6.Tanzania – 60 million GBP (sh8.63

billion)

7.South Africa & Somaliland –

55million GBP (Sh7.91 billion)

8.Rwanda – 40 million GBP (Sh5.85

billion)

WorldRemit, which provides international

money transfer services across 130

countries in over 70 different

currencies, also published data on

inflows to countries in the Americas and

Asia Pacific Region that have

significant migrant populations in the

diaspora.

WorldRemit allows receivers in Kenya to

receive their funds as a bank transfer,

on M-PESA and other mobile wallets, as

cash pick up in selected banks and

financial institutions, and as airtime

top-up on their phone.

Remittances, or money sent back home by

migrants living abroad, have been

steadily increasing in Kenya in recent

years. Data from the Central Bank of

Kenya (CBK) shows that remittances

reached USD 3.71 billion (Sh421.98

billion) in 2021, up 20.2 percent from

USD 3.09 billion (sh351.46 billion) a

year earlier. They a have hit a record

high every year since 2016 and continue

to gain momentum in 2022.

Customer surveys by WorldRemit shows

that the top uses of remittances are

education, medical expenses, and

household needs. More customers are also

shifting to digital channels which have

proven to be more affordable, secure,

and fast.

We are a leading global payments company

and, along with Sendwave, part of Zepz,

a group powering two global payments

brands.

We disrupted an industry previously

dominated by offline legacy players by

taking international money transfers

online – making them safer, faster and

lower cost. We currently operate in more

than 5,000 money transfer corridors

worldwide and employ over 1,200 people

globally.

On the sending side, WorldRemit is 100%

digital (cashless), increasing

convenience and enhancing security. For

those receiving money, the company

offers a wide range of options,

including bank transfer, cash pickup,

airtime top up and mobile money.

Backed by Accel, TCV and Leapfrog –

WorldRemit’s headquarters are in London,

United Kingdom, with regional offices

in the United States, Poland, Canada,

Australia, Hong Kong, Singapore,

Malaysia, the Philippines, South Africa,

Somaliland, Uganda, Kenya, Rwanda,

Tanzania, Zimbabwe and Belgium.

www.worldremit.com

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