Data Note

Which Month Do Kenyans in the Diaspora Send the Most Money Home?

It's not February, despite Valentine's Day. 15 years of diaspora remittance data reveal December dominance, a COVID shift that never reversed, and a North American corridor worth $2.9B annually.

By Stephen Omukoko Okoth·14 February 2026

#Remittances#Diaspora#Foreign Exchange#CBK#Monetary Policy#North America

Which month do Kenyans in the diaspora send the most money home?

It is not February, despite Valentine's Day. And it is not random either.

December is consistently the strongest month for remittances, driven by holidays, family support, and end-of-year spending. February appears weakest — but the story is more nuanced than it seems.

I analysed Kenya's diaspora remittance data across 15 years. Here are the key findings:

465% growth since 2011. From $74.3M average monthly remittances in 2011 to $419.7M in 2025. Over that period, the diaspora sent $40.51 billion home without missing a single month — 180 consecutive months of positive inflows.

COVID marked a permanent structural shift. Average monthly remittances rose from $225M pre-2020 to $330M post-2020 — a 47% increase. Six years later, that higher baseline has never reversed. The pandemic, paradoxically, strengthened the remittance habit.

The record. The highest monthly inflow on record was $445M in November 2024, during a pre-US election period. Uncertainty about the US political environment may have accelerated sending.

December vs February — a closer look. December sends about 20% more than February on average ($246M vs $205M). But adjusting for calendar days, December's daily sending rate is only 8.5% higher ($7.94M/day vs $7.32M/day). January is actually the weakest month on a daily-rate basis.

Seasonality by quarter. Q4 is 8.8% stronger than Q1 in average monthly inflows ($234M vs $215M), translating to roughly $230M more foreign exchange at year-end — a meaningful buffer for CBK reserves.

North America is the dominant corridor. It consistently contributes 55% of all remittances — about $240M per month or $2.9B annually. One corridor now delivers more foreign exchange than several traditional export sectors combined.

Predictability matters. September is the most predictable month (±$115M deviation), while December is the most volatile (±$124M). Yet December remains the strongest every single year — the volatility is upside variance.

Trajectory to 2030. At a post-COVID growth rate of 4.8% annually, Kenya's remittances are on track to reach $5.4B per year by 2030, up from $4.62B in 2025.

Source: Central Bank of Kenya.

Data source: Central Bank of Kenya — Commercial Banks Weighted Average Interest Rates, 1991–2025.