Kenyans in the diaspora will now be able to access Absa Bank’s banking, savings, and payment services remotely through the lender’s digital platform.
The new Diaspora Banking platform comes to solve the challenge faced by many Kenyans when sending money and managing projects from other countries.
It can be accessed from the bank’s website and will allow Kenyans abroad to complete the onboarding process within minutes using their mobile phones or the bank’s online platform.
“As a partner embracing digital technology, we understand Kenyans’ aspirations, and it’s our commitment to unlocking their immense economic potential and value through innovative people-centered solutions.”
“This proposition will offer various banking options as if the customers were living in Kenya. Whether Kenyans in Diaspora are living in other African countries, the Middle East, America, or Europe, they can continue transacting without having to travel back home,” Abdi Mohamed, the Managing Director of Absa Bank Kenya, said.
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Mohamed added that Absa Diaspora customers will also have an opportunity to access savings and payment options at competitive foreign exchange rates at the comfort of their smartphones, tablets, or computers.
This solution simplifies the remittance process for Kenyans living and working across Africa, the United States of America, and the United Kingdom, leveraging the bank’s Pan-African presence and global network.
In recent years, Kenyans in the Diaspora have become a significant part of the economy, contributing more than traditional sources of foreign exchange like tourism, tea, coffee, and horticultural exports.
According to recent statistics from the Central Bank of Kenya, remittances from Kenyans in the Diaspora have increased by 3.65 percent as of May 2023, amounting to USD 352.1 million (equivalent to KES 49.7 billion at current exchange rates) compared to May 2022.
