Kenyan Diaspora Remmiting US Dollar 3.3 billion Annually to converge in Nairobi
As Kenyans prepare to celebrate their Christmas next month the Kenya Diaspora Alliance (KDA), is set to host its 8th homecoming Convention (KDHC).
The events which the organisers have confirmed that Will held between December 8-10th at Ole Sereni is set to discus various economic aspects including economic recovery.
The meeting is an annual event that brings together Kenyan Diaspora from all over the world for celebration of the year gone by, networking, updates on KDA events and any upcoming opportunities and initiatives.
According to the organisers, this year’s event will bring together leading diaspora leaders and local captains of industry, and seeks to spur a conversation about how to leverage diaspora remittances for the economic growth of the country, the region and the Continent. With the remittances being made by Africans to their home-countries, the right channeling of these funds would lead to exemplary empowerment of rural and urban poor communities for overall economic growth of nations.
Speaking about the event, KDA’s global chairperson Shem Ochuodho said that the event is of great importance to the nation.
“When we first convened in 2014, the inflows stood at KSh 100 billion a year, and one of the stated goals was to redouble it in 5 years. That this target has been way surpassed confirms commitment, loyalty, emotional attachment and faith diaspora have in the motherland. They deserve reciprocation. The main goal of the Convention is to bring together the diaspora community to be part of Kenya’s economic, cultural and social fabric. While we focus on investments in the country, it is key to appreciate that the forthcoming transition offers diaspora voice to also count,” said Dr. Ochuodho.
The branded ‘Double Hybrid’ shall be both Conference and Expo/Exhibition, as well as In-person/Physical and Virtual, using cutting-edge virtual reality technology.
The Overall objective of the event is to sensitize diasporas on the opportunities available for them to invest back home as opposed to just sending money for consumption and subsistence. We seek to use this forum to reassure diasporas of safeguards already in place for their investments as well as considerations and efforts being made to further secure their interests and remittances.
The Kenyan diaspora play an essential role in the country’s.
According to statistics , the Diaspora remit over US$ 3.3 billion annually into the economy.
The Convention brings together the largest assembly of diaspora, business leaders, opinion shapers, government representatives, industry .
KDA’s Global Chair Dr. Shem Ochuodho said that the event has grown over the past 8 years, with notable diaspora remittance into the country.
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