Central Bank of Kenya building. The bank has said that remittances from abroad have grown by 9.26% to Sh17bn in August .[Photo: nation.co.ke]Kenyans living and working overseas have kept the remittances growing with money sent home growing by 9.26 per cent in August this year compared to July.Monthly data released by the Central Bank of Kenya (CBK) on Thursday shows that diaspora remittances reached $166.4 million (Sh17.18 billion) in August compared with $152.3 million (about Sh15.72 billion) a month earlier, according to Daily Nation.Year on year, the August remittances grew by 13.4 per cent from the $146.7 million ( Sh15.15 billion) reported in August 2016.Diaspora remittances, reports the Nation, have become a key support of the Kenya shilling that is under pressure due to low export earnings, stood at $154.8 million (about Sh15.99 billion) in June.This is a drop on 4.1 per cent compared to the $161.5 million (about Sh16.7 billion) recorded in May this year.In April, the remittances stood at $138.6 million (about Sh14.31 billion), six per cent lower than the $147.5 million (about Sh15.23 billion) recorded in March.Cash transfers are a major driver for domestic consumption, hence contributing to strong economic growth.According to a World Bank report, Kenya is among the highest recipients of remittances in Africa, says the Nation.

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