Co-op Diaspora Banking: The Best Way to Save Money Back Home

By Vera Shawiza / Published November 28, 2018 | 12:56 pm



Centum

The diaspora community is a major enabler of economic growth and a critical driver towards the achievement of our overarching vision of an economically sound East African Community. East Africa alone receives about 350 billion shillings annually from the population earning a living in foreign countries.

This is a big contribution, which, it is believed, will continue growing substantially in the coming years on the back of continued investments by the government and the private sector to facilitate the diaspora communities. Remittances account for four percent of Kenya’s GDP.

Over the past few decades, the diaspora population has become more prominent on the world stage. This puts it at a very unique position to contribute to the country’s economic growth and prosperity. 

Coming back home, remittances from the Kenyan diaspora have been growing at an exponential rate, even hitting $2.6 billion annually. This is a great achievement since it enables the country to grow economically through such remittances.

Kenyans living abroad are always eager and ready to invest back at home. They find it hard to get a financial partner who they will trust with their finances and this is not other than the Co-operative Bank of Kenya (Co-op Bank).

Co-op Bank have invented different accounts that have been tailored to suit the needs of Kenyans abroad through their diaspora banking and they include the following:

Business Current Account

This is a business account that enables one to have the control they desire for their everyday business banking as Co-op bank facilitates their investments and business transactions both in and out of the country from Jamhuri Current Business Account

This account offers one the opportunity to transact under a Business name, partnerships and trading companies. This account also caters to the Diaspora Saccos’ whose registration is at the Kenyan Ministry of Co-operatives.

Transactional account

It is important for every Kenyan living abroad to enjoy the same benefits as they would back at home from their Jamhuri Personal/Joint Account.

This account allows one to do their regular bank transactions safely and securely from anywhere in the world in KES, USD, GBP or EURO

Accessing using this platform is very easy and convenient and this is why you need to open an everyday account to make the most of it from anywhere in the world. This account can be opened in the name of an individual or joint name.

For more information on Co-op Diaspora Banking, check them here.

 

Fixed and Call Deposits

Maximize your savings for a period of time while maximizing on the attractive interest rates with CO-OP Bank Diaspora fixed and Call Deposits Account.

Having a Co-op Fixed and Call account enables one to enjoy attractive interest rates in KES, Euro, Dollar or GBP by saving their lump sum of money over time.

Anyone who wishes to save their money for a lengthy period while maximizing on the attractive interest rates should, without doubt, check this out.

Children Account (Jumbo Junior)

Opening a Jumbo Junior Savings Account is a great step for your child to learn how to be responsible with money

It’s never too early to cultivate a savings culture in your child. Open a KES, USD, GBP or Euro account for your child today!





About Vera Shawiza

Vera Shawiza is Soko Directory’s in-house journalist. Her zealous nature ensures that sufficient and relevant content is generated for the Soko Directory website and sourcing information from clients is easy as smooth sailing.Vera can be reached at: (020) 528 0222 or Email: info@sokodirectory.com

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