FTL Somalia

Somalia Emerges as New Source of Remittances for Uganda and Kenya

Somalia has emerged as a new source of remittances for Uganda and Kenya.

According to diplomatic sources, many Ugandans and Kenya who live and work in Somalia remit money back home.

The more than 35,000 Ugandans in Somalia remit between $50,000 and $60,000 a day.

The figure is much higher for Kenyans who average $500,000 in remittances each day.

Annually, Ugandans and Kenyans residing in Somalia remit around $21.9 million and $180 million respectively.