"Up to Sh50 billion ($700 million) is remitted to Kenya annually. The money has not only helped lift the local currency, but has also spurred activity in the property market. Buying of houses and construction of new buildings have received a boost from monies remitted to Kenya in recent times. Of course, the building and construction boom has also been driven by lower mortgage interest rates, and higher budget allocations to road construction and rehabilitation in the 2005/06 financial year.

Not surprisingly, among the other sectors that have benefited from this is the cement industry, with consumption rising by 7.9 per cent in the first ten months of 2005 to nearly 1.2 million tonnes. With five per cent of the GDP being sent back by Kenyans in the diaspora, it is clear they have made a sizeable contribution to economic growth in recent years.

The Kenya Club, an organisation of Kenyan professionals and investors residing in Britain, said last September that there were well over two million Kenyans abroad, including 130,000 in the UK itself. The veracity of the figures notwithstanding, it is true that the economic circumstances of those who opt to reside abroad is sometimes better than that of those they live behind.

Late last year, the Club said: “It is a fact that we are a vital source of revenue to our country, through the remittance of foreign currency to our families and towards development projects.” Kenya Club even estimated the annual remittances to be actually higher than what is given by the Central Bank of Kenya. Its annual bank survey for Kenyans abroad showed that they send back not less $1 billion (Sh71 billion) annually, while those in the UK alone remit Sh50 billion annually. The organisation said that when informal remittance mechanisms are taken into account the amount more than doubles official flows."
- From information made available by the Central Bank of Kenya