Framework underway to secure diaspora investment, DP Gachagua says

The government is working on a framework of delivering and securing diaspora investment in Kenya through a board.

Addressing tens of Kenyans in Botswana at Avani Hotel in the capital Gaborone on Saturday evening, the Deputy President, who was with his Spouse Dorcas Rigathi and PS for Diaspora Affairs Roseline Njogu, said the contribution of citizens in abroad to the economy is immense, and the government is keen on it.

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

 With the increasing risk on investment back home through relatives, friend and fraudulent real estate agencies, Mr. Gachagua said this will be a thing of the past as the State Department for Diaspora Affairs works on this framework.

“W 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 said.

With diaspora remittances having overtaken tourism, coffee and tea in foreign earnings, the Deputy President said Kenyans abroad stand a chance of gaining interest if they save more at home. He urged the Kenyans abroad to contribute to saving framework being developed by the State Department for Diaspora Affairs.

According to Central Bank of Kenya, diaspora remittances increased to Sh532.3 billion ($4,020 million) between March 2022-March 2023 from Sh518 billion ($3,912 million) between March 2021- March 2022. 

 “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 an interest instead of going to China (for loans). The money from diaspora is so huge; we can have an enormous reserve from which we can borrow” he said.

During the engagement, the Kenyans raised more other issues, which Mr Gachagua said the Ruto Administration will progressively address these concerns to ensure the diaspora community is confrontable and to contributes to good governance of the country.

One of the key issues that Kenyans in abroad are unanimous on is involvement in the parliamentary process through nomination of one of their own to Parliament to handle matters. 

Responding to the request as presented by Nairobi’s High Commissioner to Gaborone Mohamed Shidiye and Chairperson of the Kenya Botswana Diaspora Association, Tom Ochieng Atonga, the Deputy President said the issue would need an amendment to the laws for implementation.

“If and when there are amendments to the Constitution through a parliamentary process, it is something we can put on the table; I have taken good note of that one. We are listening, it is something we can discuss from the Kenya Kwanza formation,’’ the Deputy President said, adding that Kenyans in various parts of the Diaspora, such as Rwanda and Ghana keep raising it.

The Diaspora community asked for streamlining of voting. While acknowledging the importance of diaspora taking part in deciding on governance of the country, Mr Gachagua assured them that the electoral issues were being addressed beginning with the nomination of IEBC commissioners, which is under way through Parliament. 

On the other hand, he announced that an officer has been permanently posted to Gaborone, to address immigration issues like passport renewal and applications, which are now being processed in Pretoria, South Africa. The officer will report upon clearance of logistics.

With Gaborone, being not among the direct routes of KQ, the Deputy President said the national carrier is facing challenges, and the government is mulling reforms to return it to full operations and profitability.

“We are well seized of the matter and a lot is going on behind the scenes to get KQ on its track and when that happens, this destination will be considered,’’ he noted.

The Deputy President and his Spouse Dorcas praised Kenyans living in Botswana for their unity.

“You came here in thousands and you have made a difference in this country; the people of this country adore you for your hard work and professionalism.  You have represented us well and made us proud. You have dignified our motherland,” Mr Gachagua told the more than 250 Kenyans at the engagement, adding that he will present challenges relating to work to President Eric Masisi when they have bilateral engagements on Monday morning.

The Deputy President appraised the Diaspora community in Botswana on the political and economic situation in the country.

The Deputy President is in Gaborone, Botswana, on a four-day working tour. He will represent President William Ruto at the second edition of Forbes 30 under 30 Summit Africa, on Monday. Besides speaking at the Summit, which brings together the Creme De La Creme in youth entrepreneurship, Tech, Health/Science, Creatives, Sports, Arts, among other categories, Mr Gachagua will hold several bilateral meetings including with the host President Dr Eric Mokgweetsi Masisi. These talks will be on fostering the relations between the two countries.