Kenya sees decline in diaspora remittances due to COVID-19

In Kenya, nearly a third or slightly more than one million borrowers will be removed from the country’s Credit Reference Bureaus (CRBs) following the central bank’s order to spare defaulters with unpaid loans of less than Ksh1,000. In addition, diaspora remittances to Kenya is expected to fall to its lowest as the consequences of lockdown in Europe due coronavirus. Felix Otieno, Investment Analyst at Cytonn joins CNBC Africa for more.

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