Kenya Risks Losing Nearly $0.5 Billion in Annual Gulf Remittances as Middle East War Bites: Report
16:38 14.04.2026 (Updated: 18:00 14.04.2026)
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Kenya Risks Losing Nearly $0.5 Billion in Annual Gulf Remittances as Middle East War Bites: Report
The country could lose over $480 million annually in remittances from Gulf countries—especially Saudi Arabia and the UAE—as the US-Iran conflict threatens jobs for Kenyan workers in the region, according to the Institute of Economic Affairs.
That equals roughly $40 million per month at risk if the war persists, the report, cited by Eastleigh Voice, said.
⬇Meanwhile, Kenya’s private sector contracted in March for the first time in eight months, with the private mortgage insurance falling to 47.7 as higher oil prices pushed up transport and production costs.
Gulf countries have become key financiers of Kenyan infrastructure and energy imports, raising the country’s exposure to prolonged regional instability, the report noted. A sustained conflict could also pressure foreign reserves.
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The country could lose over $480 million annually in remittances from Gulf countries—especially Saudi Arabia and the UAE—as the US-Iran conflict threatens jobs for Kenyan workers in the region, according to the Institute of Economic Affairs.
That equals roughly $40 million per month at risk if the war persists, the report, cited by Eastleigh Voice, said.
⬇Meanwhile, Kenya’s private sector contracted in March for the first time in eight months, with the private mortgage insurance falling to 47.7 as higher oil prices pushed up transport and production costs.
Gulf countries have become key financiers of Kenyan infrastructure and energy imports, raising the country’s exposure to prolonged regional instability, the report noted. A sustained conflict could also pressure foreign reserves.
Subscribe to @sputnik_africa
Sputnik Africa | X
