The Kenya’s government decision to open 5 consulates in the United States of America comes at a time when the Kenyan Diaspora in the US contribute to about 50% of the total remittances sent back from Kenyans living abroad.
The Kenyan diaspora is very valuable in all aspects; first and foremost it is part of the larger Kenyan family and they are major contributors to the Kenyan economy which is growing at a very fast rate. Last year alone Kenyan diaspora in the US injected about 750 million US dollars which was half of all the remittances from Kenyan’s living abroad.
Other than monetary remittances, the Kenyan diaspora in the US are a very valuable asset to Kenya in terms of skills and contacts which go a long way in bolster the economy. Efforts have been put in place in a bid to encourage the Kenyans living abroad to invest back home to increase the wholesome growth of the country’s economy.
For the Kenyan Diaspora the opportunities in real estate, ICT, Agriculture as well as building and construction are proving very lucrative especially with the massive plans of the government to improve the quality of life of the populace.
Opportunities are not only for the Kenya Diaspora seeing as the government is looking to waiver some duties to improve the import/export business for both people here and abroad. This is a step that will see a much more close knit business fraternity for Kenyans regardless of where they live and or work from.
The Kenyan economy, which is the fastest growing in Africa, will receive even a major boost after a framework to improve the trade and barriers experienced by people living abroad have been reduced as promised in a recent Kenyan Diaspora meeting in Los Angeles.
The framework will include lowered costs of Diaspora transactions and remittances, as well as preferential duty waivers and concessions for Diaspora businesses.
