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Diaspora Remittances Hit A New Monthly Record

Kenyans abroad made record monthly remittances in May consolidating the inflows’ position as the highest foreign exchange source ahead of tea, official data showed yesterday. Monthly data released by the Central Bank of Kenya (CBK) showed that diaspora remittances reached $161.50 million (Sh16.78 billion) in May, a growth of 10.04 per cent compared to $146.76 […]

From next year, Kenyans who work, do business or own property outside the country risk huge penalties for not disclosing their incomes for taxation back home. The Kenya Revenue Authority has given a one-year tax amnesty to December 31, 2017 for tax payers in the diaspora to file their returns for the year ended December […]

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A real-estate developer says Kenyans receiving money for property investments from relatives in the diaspora have turned into fraudsters, forcing many to stop investing. Enkavilla Properties chief executive Meshack Muhoho said investors have to engage established real-estate firms with past records of completed projects when seeking to invest back home. “Look at organisations with a […]

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Wave, a New York-based money transfer firm, has expanded its M-Pesa-linked diaspora remittance services to the United Kingdom. This means that East Africans living in the UK can now use the Wave app to send money directly to Safaricom’s M-Pesa wallets, as well as to Uganda and Ethiopia through MTN mobile money. They can also […]

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Weru Macharia got bored teaching English to French speakers during his seven-year sojourn in France and opted to return home to venture into private practice. “Many people hardly believed a Kenyan could fluently speak and write French better than a Frenchman which saw many corporate companies and multinationals give me jobs after lacking a French- […]

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