Diaspora remittances now Kenya’s top foreign exchange earner – DP
Deputy President Kithure Kindiki has said that currently diaspora remittances stand as Kenya’s top foreign exchange earner at over Sh500 billion.
Speaking during a meeting with representatives of Kenyans in Namibia, Saturday, Kindiki said the diaspora remittances have supported the tea and tourism sectors, which have for many years been top earners.
“We thank you for what you’re doing for our country, the diaspora community. You play a huge role in developing our nation. Diaspora remittances now have overtaken the traditional tea tourism and so forth, which for the last about 40 years, have been the leading earners of foreign exchange for Kenya. Remittance is now scaling up, I think it’s past Sh500 billion now,” he said.
The Deputy President said the current administration’s target is to ensure the remittances hit the trillion mark.
He said the diaspora holds a special place in relation to the development of Kenya.
“Our target, of course, in the manifesto of Kenya Kwanza is to get a trillion remittances. We place diaspora in a very special place, because you are helping develop our country, and we value that input,” he said.
During the meeting, the Kenyan professionals in Namibia raised concerns on various issues including immigration, travel logistics and trade, calling on the government to address the challenges.
Kindiki in response assured them of Kenya Kwanza administration’s commitment to see to it that they are all addressed fully.
He said this will be done in the shortest time possible.
“The things you’ve said here, it is in our interest as a country to unlock all of them without exception. I was expecting more issues you list on reform, and I want to assure you will resolve them in the shortest possible time,” Kindiki said.
The DP met the Kenyan community representatives after the funeral of Namibia’s founding President Sam Nujoma in Windhoek.
This has been my view about Diaspora Kenyan investments in their which they love very much.
For me here in Toronto and I go all the time from 1995 when Kenyan refugees outside could come back.
I want to start a bread bakery business in my hometown. The biggest bread makers in Kenya is Broadways Bakery.
My mother told me that the land for the family must always be kept that way. She demanded that my young son should come home so she can see him and talk to him. The boy’s mother told me to take him to his grandmother in Kenya.
Then we came and the boy was five years old. My mother was nuts about him. She was teaching him how to make food and everybody just left them alone. They were cooking food and just being funny. We ate the food. Thanks.
Now we want to build a bakery there like this. My mother would be very happy about it and we are going to do it.
Thanks to the equipment from UNDP, we increased our production by 10 times and created 3 jobs in our factory.
Now is the time for Raila Amolo Odinga and President William Ruto to set up the Diaspora Invest Program. Let’s do it NOW.
And the other part of my family here in Toronto are Eritreans and they lived in Italy for along time. So they take me to the Italian bakeries and food spots. I tell them I want to bring that to Kenya. It is going to work I tell them. It is heavy equipment to get it done. That is what they tell me. Can Kenyans brings these equipment home without taxes?
Kenyans can invest in such needed economic progress by bringing capital from Diaspora Kenyans. What we pay for health and school fees comes from our salaries. You get paid and the first question you ask yourself is who is in hospital at home. Whose college fees and rent has to be paid. That is where your salary goes.
If and when the Kenyan government comes up with a Kenyan Diaspora Investment plan Kenyans out of the country will get loans and invest in the country. It could be in tens of trillions investment because Kenyans out here love their country very much.
To transport any heavy duty equipment from out here you need a container and from Canada that is $ 10,000 and in most cases people group up to use one container.
With a Diaspora Investment Program Kenya can attract trillions as Kenyans out here invest in their country. That is what the country needs. Raila Odinga should ask President William Ruto to look at that opportunity for the nation.
And today we remember JM Kariuki. One of a kind.
