Kenya Told to Simplify Process For Diaspora Community to Invest

The Government has been urged to simplify its relations with diaspora community in order to make it easier for them to invest in the country.

African Development Bank Director, Mr. Gabriel Negatu noted that there is need to view the diaspora as a resource that goes beyond money remittances.

“The diaspora is not just a cash cow or a gold mine. There are other resources including networks and skills that can be utilized for the growth of the continent. There is need to close the financial gap in Africa through sustainable development and patient capital.” said Mr. Negatu.

He was addressing business leaders, investment partners, diaspora communities attending the 4th Kenya Diaspora Homecoming Convention at Strathmore University organised by the Kenya Diaspora Alliance.

Speaking during the event, Makueni Governor, Hon. Kivutha Kibwana noted that the diaspora community is a critical resource for Kenya.

“We take note of people from Makueni county who are outside the country because they are a key component of development. My county has also established a directorate that takes care of diaspora affairs and encourage investment in Makueni,” said Governor Kibwana.

Data from Central Bank shows that inflows from the diaspora this year (January-September) rose by KSh10.88 billion ($105 million) to a record KSh 143.30 billion ($1.382 billion).

“It is remarkable to see Africa opening up more opportunities for trade within the continent through simpler immigration and visa rules,” said Ekuwe Ethuro; citing the directive by Kenya’s President Uhuru Kenyatta to grant all Africans visas at point of entry.   

It is expected that the conference will offer business leaders an opportunity to critically discuss how to encourage diaspora investment and attract investor confidence in Kenya.

The convention will focus on key topics including investments, public-private partnerships, youth engagement and governance.