Kenyan Remittances Dented by New US Tax, Fallout from Iran War

Remittances from Kenyans living abroad might drop this year, marking the first decline since 2009, due to a new US tax on money transfers and complications stemming from the Iran war. This new tax and geopolitical tensions are affecting the crucial foreign exchange earnings that many families rely on. The impact could lead to economic strain, particularly for those depending on these funds to support their families back home. For more details, check out the full article on Bloomberg.