 "Empowering Tomorrow Together" |
"Empowering Tomorrow Together"
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INITIATIVES Our organization’s goal is to improve the welfare of our people by improving their living standards long-term. To that end we have embarked on initiatives that establish the economic framework upon which Kenyans in the Diaspora and beyond, can join and be a part of a great journey that we have all embarked on. We have established a few business platforms that we are currently scaling to optimize trade with Kenya and East Africa as a whole to grow the economy and create good paying jobs on both ends of the globe. The initiatives include a corporate entity, Diaspora Capital Group, Inc. designed to restructure our economy and optimize investments and return on investments in key industries including Real Estate, Tourism, E-Commerce, Public Infrastructure and Healthcare. Additionally, we believe that the Kenyan Diaspora has come of age and should have its own financial institution in the form of a Bank to serve its members and consolidate investable incomes into viable economic activities mentioned above. To that end, we are in the process of establishing a federally licensed Federal Credit Union specif to the unique needs of our Diaspora members. Diaspora Federal Credit Union – The PROPOSED Diaspora Federal Credit Union applied with the Federal government to obtain a charter (license) to operate. We have obtained “Preliminary Field of Membership” approval from the National Credit Union Administration, an essential step in the licensing process. As we work through the final steps of licensing we need to increase our membership and we ask that you SIGN-UP and join us as we advance this noble cause. You must reside in the United States to sign-up. We are open to customers from all lifestyles who fall within our common bond, i.e. Kenyans in the United States and their families and friends, a demographic with a unique set of financial needs that require an integrated platform to provide solutions to those needs. As a financial institution, Diaspora Federal Credit Union will play a pivotal role in consolidating investable capital,as well as improve members’ finances. It will help restructure and transform our collective economy by creating a platform upon which members can access all kinds of financial services including bank accounts, investment products, insurance services, personal loans, mortgages, student loans, car loans, etc. We need our own Credit Union to serve our unique financial needs – Diaspora Federal Credit Union is the answer….. Read more . |
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Why diaspora matters
 The role of the Kenyan Diaspora in the country’s economic, political and social fabric has expanded exponentially over the years as more and more Kenyans migrate overseas over the years. Figuratively the Kenyan Diaspora is referred to as 48th County for its economic contribution to the country. It is also the most affluent “County” as measured by the annual remittances that is attributable to the Diaspora. According to available data from The Central Bank of Kenya, Diaspora remittances have more than Quadrupled over the last ten years from US $ 338 Million (KSH 25 Billion) in 2004 to US $ 1.73 Billion (KSH 107 Billion) in 2016 https://www.centralbank.go.ke/diaspora-remittances-2/ . So the Diaspora’s economic impact on the country cannot be overstated and will continue to be a major driver of economic activity for the foreseeable future. The Diaspora remittances have surpassed tourism as the main source of foreign exchange and serves as a critical buffer in preserving the country’s balance of trade as well as the much needed foreign currency reserves. Services title
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The Kenyan government under President Uhuru Kenyatta and previous governments have elevated their interest in the Diaspora, there is now a designated Director of Diaspora Affairs domiciled at the Ministry of Foreign Affairs. However, there still exists challenges in the government’s outreach initiatives and we must do our part to bridge the gap. Ours is to build on this renewed government interest and establish a solid foundation upon which we can partner to further advance our common economic, political and social interests collectively. |
Remittances
 On the economy, clearly the Diaspora has a key role to play. Given the proper incentives the diaspora has the potential to transform Kenya’s economic structure beyond the already elevated remittances. There are tremendous opportunities to spur investments through direct investments on projects such as Infrastructure, Housing, Tourism, Manufacturing, Outsourcing, Finance, Healthcare and so many others. To this end, what we must do is establish platform and framework on which to leverage the leverage expertise and partner with the Kenyan government and other stakeholders to restructure Kenya’s economy. |
