President William Ruto has revealed that Kenyans living abroad sent home more than Ksh64.6 trillion in remittances in 2024.
In a statement shared via his X account on Thursday, January 30, 2025, President Ruto, who is currently in Egypt on a two-day state visit, emphasized the importance of Kenyans in the diaspora to the nation’s financial stability and growth.
While in Egypt, Ruto engaged with the Kenyan community in Cairo, acknowledging their efforts and contributions to the country’s development.
Ruto highlighted that Kenya’s greatest asset lies in its skilled, knowledgeable, and hardworking human capital, which is recognized globally for its contributions. The high demand for Kenyan professionals around the world has made remittances from the diaspora a key component of the national economy.
He mentioned that in 2024 alone, the country received over Ksh64.6 trillion ($500 billion) in remittances, with Kenyans abroad playing a role in driving foreign exchange earnings.
According to the Head of State, these remittances have become a primary source of foreign exchange, surpassing traditional sectors such as agriculture and tourism in terms of their economic impact.
“Kenya’s greatest asset is its knowledgeable, skilled and experienced human capital. Globally, Kenyans are renowned for hard work and innovation, and this explains the high demand for them in many parts of the world. As a result, Kenyans in the diaspora are playing a crucial role in our economy, remitting more than $4.94 Billion in 2024. Undoubtedly, they have become our largest foreign exchange earners. Engaged Kenyans living in Egypt, Cairo,” Ruto stated.
Ruto’s Cairo visit
The president is in Cairo to engage in discussions aimed at strengthening bilateral ties between Kenya and Egypt, with a focus on regional peace and collaboration.
On January 29, 2025, President Ruto shared details of his discussions with Egyptian President Abdel Fattah El-Sisi. The key highlight was the signing of a Joint Declaration for a Strategic and Comprehensive Partnership aimed at strengthening the ties between Kenya and Egypt. Ruto described the partnership as a significant step forward, emphasizing its potential to enhance cooperation in various sectors.
“Kenya and Egypt have signed the Joint Declaration for a Strategic and Comprehensive Partnership. By appending my and President Abdel Fattah El-Sisi’s signatures, we have elevated our relationship and strengthened our ties to boost our engagements in various fields,” Ruto stated.
He further explained that the agreement would facilitate new opportunities for collaboration, with 12 additional agreements covering areas such as trade, investment, education, research, and technology exchanges.
The leaders also addressed regional security issues, focusing on the ongoing conflicts in Sudan, Somalia, and the Eastern Democratic Republic of Congo (DRC). Ruto emphasized the urgent need for joint efforts to end the violence causing significant loss of life, displacement, and destruction across the continent.
“Conflicts in Africa have led to loss of lives, displacement of people, and destruction of property and livelihoods. On this account, it is urgent that we work together to bring an end to these clashes, silence the guns and bring back peace and stability, especially in Sudan, Somalia and the Eastern DRC, for the continent’s sustainable development,” the Head of State added.
Leave a Reply