Kenya's New Economic Engine: Diaspora Remittances Hit Record KSh 638 Billion, Outpacing Key Exports

Diaspora Now Kenya’s Top Economic Driver as Remittances Hit KSh 638 Billion

Nairobi, Kenya – In a landmark announcement, President William Ruto has declared Kenyans living abroad as the country’s leading economic pillar, after diaspora remittances reached a record-breaking KSh 638 billion (approx. US$4.95 billion) in 2024 — officially surpassing revenue from Kenya’s traditional top exports: tea, tourism, and coffee.

Speaking at State House, Nairobi, the President celebrated the diaspora’s contribution, crediting the Labour Mobility Program for facilitating nearly 400,000 overseas job placements in the past two years. “This is not just money — it is proof of Kenya’s global potential,” Ruto said, emphasizing that the diaspora’s growing economic role is reshaping national priorities.

To sustain this upward trend, the government has streamlined key services such as passport and visa processing, reducing wait times from weeks to just days. In a decisive move to protect job-seeking citizens, Ruto announced the deregistration of 1,000 rogue recruitment agencies accused of defrauding applicants.

He further called on diaspora communities to embrace their role as “Kenya’s brand ambassadors”, stating:

“The support you give to your families and communities is part of nation building.”

The President outlined plans to unlock more investment channels for the diaspora, aiming to convert remittance flows into long-term development capital. These include new frameworks for housing, infrastructure, and enterprise opportunities, which the government hopes will deepen diaspora engagement beyond personal remittances.

With Kenya’s economy under pressure from debt and inflation, the record-breaking diaspora remittances now stand as a lifeline and leverage point in the country’s economic planning — solidifying the global Kenyan workforce as not just contributors, but strategic architects of national prosperity.