Remittance doubled in 5yrs..

[RV Pundit]

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Are Kenyans moving abroad or these are online activities

[Kadudu]

The accessibility to bank accounts through money transfer services has helped Kenyans abroad to be able to send money to Kenya. Now no need of using relatives to keep your money. You can send it directly to your account at the bank or mobile service and mange it yourself.

[Kadudu]

Also the weak Ksh has played a big role. Lost almost 30% in the past 12 months to the US$.

[sema]

I"d say all of the above (you can now send money via an app called wave direct to someone's MPESA account) app of course was created by a mzungu so it's trustworthy.

The other thing is and I keep repeating it here...young kenyans are just NOT working. They are begging. They are desperate. They are harassing their relatives for money all the time.  Whatever ruto does, if it doesn't resolve this unemployment issue it's going to become a failure.

I've said before what young kenyans are doing now is youtube and you have 2 groups -- the mulot wash wash guys who are creating channels and putting links in there and scamming people and another group that is trying to create genuine content (they have realized that they are lots of kenyans abroad that miss home and that want to see video's of kenya and they are posting these video's and asking for donations through mpesa and patreon so they can keep creating content) - this generation has given up on trying to get jobs.

But it's a problem because you cannot have 35 year old men just sitting on the couch all day talking about nonsense and then asking for mpesa donations. Men need to do real jobs (construction, plumbing, electrical work, building things, etc) the average 30 year old man in kenya today has become like a village grand-mother, sitting on a couch gossiping online and calling that work.

Just saw this stat and I'm not sure if it's true?

Diaspora remittances as a percentage of GDP ? 3.5%.

[RV Pundit]

You're omitting thousands doing contract cheating for students abroad.. industry worth a billion dominated by Kenyans.Then others doing genuine remote online work

[sema]

ou're omitting thousands doing contract cheating for students abroad.. industry worth a billion dominated by Kenyans.T

Dominated by kenyans? pundit please.  It's dominated by Indians and filipinos and it's not that many people. Americans don't cheat that much. IT's not africa.

It's wash wash and the others are just online talking about sex, dating, relationships and gossip

[Nowayhaha]

Several factors
1.Kenyans mostly in U.S. and Europe have decided to invest back home especially in real estate.
2. Substantial number of Kenyans have emigrated to work in Middle east
3.lots of Kenyans conning using credit cards and old bazungus dormant bank accounts.
4. Lots of wash wash especially cryptocurrency
5. Last but not least shilling has lost alot of value against dollars by around 40 ksh thats alot.

[hk]

 A sizeable chunk is from Somalis in diaspora and even in somali itself. Somali money transfer companies e.g dahashil and jumba express handle $ millions. The construction boom in Eastleigh and South c is driven by remittance money.

[RV Pundit]

Also Saudi Arabia I think is now second to USA..so mass immigration of lowly educated to middle east is paying.

[sema]

Kenyans mostly in U.S. and Europe have decided to invest back home especially in real estate

I think this is slowing down.  That craze to invest was when Moi left power and kibaki first came in and then 2007 happened and people were like no thanks.  Add in the fact that so many people have been scammed that investing or even retiring in kenya is no longer a goal (especially for people that have kids) the money is now going to pay for their kids college, pay off their mortgages and enjoy their own lives in the usa (e.g. taking vacations, traveling more etc)

Also, many kenyans noticing that the building standards and quality in kenya are so poor that they don't want to have to deal with repairs and run down houses in 10 or 20 years. Quality of life in kenya is just not there anymore. People are going to visit, stay in an airbnb, go to mombasa and come back.

[KenyanPlato]

in 20 years remittances from usa will dry down. now it requires all people migrating to usa to know it 95% a one way ticket due to tight immigration laws. once most become residents and citizens they abandon kenya and just support parents once parents are dead they never go back

I've about 3 trips to kenya left and I will never go back k

[KenyanPlato]

Kenyans mostly in U.S. and Europe have decided to invest back home especially in real estate

I think this is slowing down.  That craze to invest was when Moi left power and kibaki first came in and then 2007 happened and people were like no thanks.  Add in the fact that so many people have been scammed that investing or even retiring in kenya is no longer a goal (especially for people that have kids) the money is now going to pay for their kids college, pay off their mortgages and enjoy their own lives in the usa (e.g. taking vacations, traveling more etc)

Also, many kenyans noticing that the building standards and quality in kenya are so poor that they don't want to have to deal with repairs and run down houses in 10 or 20 years. Quality of life in kenya is just not there anymore. People are going to visit, stay in an airbnb, go to mombasa and come back.

you 100% right. two of my friends that relocated regret that decision. one had a lot of investments but due to economic downturn that income is still not enough and he feels he wasted a chance to make a lot of $$ for retirement. he left without papers. the second one got tired and got caught selling nursing home narcotic to the streets so he run away. he is now broke and has gone underground. both of these guys were making about $120,000 in 2000. they are now in kenya barely making it

[RV Pundit]

Yes remittance dries out after first generation but Kenya has excess labour that will be seeking opportunities abroad..most likely via remote work..than physical movement. That is the future  we have to prepare by having very fast and cheap Internet..with well educated workforce..we are definitely going to double to 10b dollars shortly...Nigeria is at 20b..Egypt I think 80b dollars.

[Georgesoros]

Second generation immigrants will not send any money so be prepared for a slow down. But pple are moving back so retirement income will follow them.

[sema]

[RV Pundit]

just add kibe..to complete the usual booring diatribe.the reality Kenya remittance has increased while Western nations have clamped down on migration. Kenya is too poor to afford idle people..you idle you die out hunger..Kenyans have to fend and eke a living.

[sema]

[Nowayhaha]

The people who fear going back to Kenya giving their own formulated opinions.
The truth is more and more Kenyans are investing back in real estate with anticipation of retiring back home.
Thats the plain truth before it was building homes wss the inly thing the could do . now they can buy houses and apartments and rent them .As they plan to come back to Kenya after hitting 50 years .
I am always in Rugby 7s and the shops you see are the ones showcasing investments in Kenya.

[RV Pundit]

academy writing is big industry in Kenya

[KenyanPlato]

The people who fear going back to Kenya giving their own formulated opinions.
The truth is more and more Kenyans are investing back in real estate with anticipation of retiring back home.
Thats the plain truth before it was building homes wss the inly thing the could do . now they can buy houses and apartments and rent them .As they plan to come back to Kenya after hitting 50 years .
I am always in Rugby 7s and the shops you see are the ones showcasing investments in Kenya.

do you have numbers you can pull out of your arse on this?