Kenyans in Diaspora Urged to Invest in Various Sectors Back Home

Kenya’s Ambassador to the US Lazarus Amayo has called on Kenyans in the diaspora to invest back home.

Amayo urged Kenyans living and working abroad to take advantage of the prevailing investment climate in Kenya and invest in various sectors brought about by devolution, the Big Four Agenda, as well as Kenya Vision 2030.

He was speaking during a meeting with Kenyans living in Seattle, Washington where he outlined the services offered by the embassy, the government diaspora policies, and ways of collaboration in advancing Kenya’s interest abroad.

The diplomat also underscored the pivotal role the diaspora plays in economic development through remittances and investments.

Data by the Central Bank of Kenya (CBK) shows Kenyans in the diaspora sent home $329.1 million (Sh36.02 billion) in November, representing a five percent drop from Sh38 billion ($337.4 million) received in the previous month which was a record for remittances in a single month.

The cumulative remittances in the 11 months to November totaled Sh377.01 billion, surpassing the overall remittances for the year 2020 which stood at Sh348.17 billion.

The United States remains the single largest source of diaspora remittances to Kenya, accounting for 67.3 percent of the money received in November.

During Sunday’s meeting, Kenyans in Seattle thanked the embassy and the government of Kenya for their continued support.

They expressed the need for the government to consider opening up a consulate in Seattle to bring services closer to them given that Washington DC, Los Angeles, and the New York offices were far.