Gov’t to Create a Board to Secure Diaspora Investment

Deputy President Rigathi Gachagua has revealed plans by the government to establish a diaspora board that will be tasked with delivering and securing diaspora investment.

Gachagua said the Kenya Kwanza administration recognizes the immense contribution Kenyans in the diaspora make to the country’s economy, adding that the government is keen on securing their investments.

“A conversation is going on, on establishing a diaspora board. We want to create an investment forum guaranteed by the government for the people in the diaspora. This will ensure you can invest back home and your savings are safe,” said Gachagua.

The deputy president noted that the creation of the board will address the risk of Kenyans abroad investing back home through dishonest relatives, friends, and fraudulent real estate agencies.

“We will be mapping out credible real estate developers to work with the State Department on Diaspora Affairs to build homes for people abroad through a government guarantee. The Government will supervise the work to ensure your investment is delivered,” he added.

He also urged the diaspora community to contribute to the saving framework that is being developed by the State Department for Diaspora Affairs.

 “We need you to save at home. Other countries lend us money from savings of their countrymen. If you people (diaspora) agree, that is the money the government can borrow for development at interest instead of going to China (for loans). The money from the diaspora is so huge; we can have an enormous reserve from which we can borrow,” he said.

Gachagua was speaking at Avani Hotel in Gaborone, Botswana, where he met with over 250 Kenyans living and working in the South African nation.

He was accompanied by his wife Pastor Dorcas Rigathi, Principal Secretary for Diaspora Affairs Roseline Njogu, and Kenya’s High Commissioner to Botswana Mohamed Shidiye.

The deputy president is in Botswana on a four-day working tour and will represent President Ruto at the second edition of Forbes 30 under 30 Summit Africa on Monday. 

He will also hold bilateral meetings including with the host President Eric Mokgweetsi Masisi.