Cheap Channels of Remittances Mooted for Kenya Diaspora

Kenyan Diaspora will from now on be able to send money and invest back home through safe, affordable and convenient channels.

Speaking during the launch of a book titled, “Send Money and Invest in Kenya:  A Guide for Diaspora Remittances and Investment,” Diaspora and Consular Affairs Directorate Director Mr. Washington Oloo said the booklet acts as a guide on how local savings, payments, donations, and investments can be made while abroad.

“One of the mandates of Ministry of Foreign Affairs is to seek ways in which the Kenyan Diaspora can be empowered to invest back home and how the Government can leverage on the remittances from Kenyans residing abroad and channel them towards national development,” Mr. Oloo said.

The Government of Kenya has over the years recognised the importance of the contribution of the Kenyan Diaspora to the economy and development in general.  Kenya’s Economic Blue Print “Vision 2030” considers diaspora remittances as one of the flagship projects.

Both the Foreign Policy and Diaspora Policy underscore the importance of Government’s engagement with Kenyan Diaspora.

The booklet provides key information on different channels of Diaspora remittances including the players in the financial sector.

“It is our hope that the booklet will provide useful insights and will empower Kenyans abroad on issues of sending remittances and investing back home through the fastest, safest, and least costly ways of transferring money,” Mr. Oloo said.

The guide which is the first of its kind in Kenya was produced in collaboration with International Organisation for Immigration (IOM), Kenya Country Office and the ACP–EU Migration Action.