Diaspora (Commonwealth Union) _ Following President William Ruto’s recent state visit to the United States, Kenyans living abroad are being urged to invest in their homeland. This call to action was prominently highlighted at the Jambo List USA Business Forum held at Embassy Suites Hotel in Piscataway, New Jersey. The forum, themed “The Power of Investing Back Home,” drew a significant attendance from investors and philanthropists, and featured key insights from the Ministry of Industry, Trade and Investments and the Kenya National Chamber of Commerce and Industry (KNCCI).
Cabinet Secretary Rebecca Miano emphasized the strong economic connections between Kenya and the US, noting that the US accounts for 56 percent of Kenya’s diaspora remittances. “My ministry has undertaken to set up a diaspora directorate to offer business solutions to the diaspora community,” Miano announced, underlining the government’s commitment to fostering better linkages with Kenyans abroad. She reassured attendees that the ministry would provide the necessary information and address concerns related to the safety and cost of remittances and investment opportunities in Kenya.
During his state visit, President Ruto and US officials agreed to strengthen economic ties through private sector partnerships, focusing on clean energy technology, agriculture, and affordable housing. These areas present significant opportunities for diaspora investors.
John Mwaura, CEO of Kenyan real estate firm Finsco Africa, spoke at the forum, unveiling plans to reach out to the diaspora community to encourage investment back home. Mwaura stressed the importance of real estate investment, aligning with the government’s Affordable Housing Programme. “Investing in real estate at home will help many Kenyans not only own homes but also start income-generating activities in sectors like agribusiness and horticulture,” Mwaura said.
To further this initiative, Finsco Africa will embark on an extensive business tour across several US states, including Maryland, Georgia, Massachusetts, Texas, Washington Seattle, New Jersey, North Carolina, and California. The tour, scheduled from June 24 to July 31, 2024, aims to connect Kenyans in the diaspora with lucrative investment opportunities in Kenya.
“Our mission is to empower Kenyans wherever they are by providing secure, profitable, and hassle-free investment opportunities. This tour is an extension of that mission, and I look forward to engaging with our diaspora community and potential investors across the United States,” Mwaura stated.
Finsco Africa currently has five major projects underway: Thika Grove Chania, Finpark Estate in Ruai, Riverline Ridges, Legacy Ridges, and Bliss Water Park. These projects represent diverse investment opportunities that promise significant returns and community development. In conclusion, the Jambo List USA Business Forum highlighted the growing economic partnership between Kenya and the US and underscored the vital role of the Kenyan diaspora in driving economic growth and development back home. With structured support from the government and strategic investment opportunities, Kenyans abroad are well-positioned to make impactful contributions to their homeland’s prosperity
