Remittance from Saudi Arabia rose to $302.26 million (37.78 billion shillings) in 2022, compared to $185.01 million a year earlier, Business Daily reported, citing Central Bank of Kenya data.
Despite geopolitical concerns, the 63.38 percent jump in diaspora inflows bucked a trend of reduced overall remittances.
The higher remittance is prompting Nairobi to seek a bilateral arrangement with Riyadh over a framework to allow more professionals to be recruited in Saudi Arabia.
Data tracked by the central bank shows the Middle East was the biggest growth driver in remittances last year, up 8.34% to $4.03 billion from $3.1 billion in 2021.
The newspaper said that the US, the UK, and Saudi Arabia account for nearly three-quarters of total annual inflows, which partly helped cushion the shilling against the globally-bullish US dollar.
(Editing by Seban Scaria firstname.lastname@example.org)