Cytonn Investments and affiliate Cytonn Diaspora, today officially opened offices in the United States further bringing investment services and products back home to Kenyans in the US Diaspora.
The opening ceremony for the office in Washington D.C. was officiated by Kenya’s Ambassador to the United States of America His Excellency Ambassador Robinson Githae, who thanked Cytonn for establishing the first office in the united states focused on investment services for Kenyans in the diaspora. “This is the first office dedicated to facilitating investments for Kenyans in the diaspora and I encourage the diaspora to use professionals when evaluating investment opportunities.” Also at the ceremony was the Second Counselor in charge of diaspora and tourism, Mrs. Jane Miano Mugweh.
“Our setting shop here is to bring investment services closer to Kenyan investors in the US looking for a trusted and credible investment partner. With our accessible platform, we are here to help the Diaspora investor identify, evaluate and invest in differentiated investment opportunities that speak to their investment needs, ” said Ms. Hetal Nathwani, business lead for Cytonn Diaspora.
The opening of the office in Washington DC was part of a month-long diaspora roadshow in the US where the Cytonn Diaspora teams held investment sessions with Kenyans living in Atlanta, Dallas, Houston, Baltimore & Greenbelt in Maryland, New York, New Jersey, Pennsylvania and Boston.
“The potential contribution of the Diaspora to a country’s development goes beyond personal remittances. These contributions range from knowledge exchange, increased trade links, and better access to foreign capital. As Cytonn, our aim is to enable the diaspora to contribute to Kenya’s economic back home by connecting connect capital from the Kenyan Diaspora to investment opportunities locally. When full scaled, our strategy should be able to attract at least Kshs. 5 billion per year of diaspora funding for investments in Kenya,’’ said Mr. Dande.
According to Central Bank of Kenya, total remittances from Kenyans in Diaspora were Kshs 144 Billion in 2014 with the United States of America contributing to 50% of the total remittances.
The office is located at 6411 Ivy Lane in Greenbelt Maryland, a suburb of the DC Metro area.
This article originally appeared on the Cytonn Investments blog.