President William Ruto has unveiled the Kenya Diaspora Impact Platform, a new initiative aimed at connecting Kenyans living abroad with investment, enterprise and development opportunities in the country.
Ruto witnessed the signing of a Joint Declaration of Intent involving the Government of Kenya, the United Nations in Kenya and Equity Group Holdings during his engagement with Kenyans in New York on Sunday.
The platform is being developed to strengthen the role of the Kenyan diaspora in national development by creating channels for participation in community impact projects, financing for micro, small and medium enterprises (MSMEs), enterprise creation and skills and knowledge transfer.
Ruto said the initiative would provide Kenyans abroad with access to verifiable opportunities through which they can contribute to Kenya’s economic transformation.
“We are building a stronger bridge between Kenyans abroad and opportunities at home, founded on trust, transparency and measurable results,” the President said.
The President described the diaspora as an important part of Kenya’s growth story, saying its contribution extends beyond the remittances sent to families back home.
He said Kenyans abroad also possess capital, expertise, innovation and international networks that can be channelled towards productive investment and development projects in Kenya.
The platform is expected to create a structured framework through which diaspora resources can support community projects and businesses while facilitating the transfer of skills and knowledge to the country.
It will also target catalytic financing for MSMEs and enterprise creation, providing opportunities for diaspora investors to participate in businesses and development initiatives at home.
The Joint Declaration brings together the Government, the United Nations in Kenya and Equity Group Holdings, with Prime Cabinet Secretary and Foreign Affairs Cabinet Secretary Musalia Mudavadi signing on behalf of the Government.
Equity Group Holdings Chief Executive Officer James Mwangi represented the private sector, while UN Resident Coordinator in Kenya Garry Conille signed on behalf of the United Nations.
Ruto said trust and transparency would be critical to the success of the initiative, particularly in ensuring Kenyans abroad can identify genuine investment opportunities.
“Trust must be at the centre for this initiative to succeed. Information must be reliable and transparency should be the operating principle if the platform has to achieve its objectives,” he said.
The President cited housing, healthcare and agriculture among areas where Kenyans in the diaspora could invest, while also using their professional expertise and knowledge to support enterprises in Kenya.
The initiative was unveiled as Ruto engages Kenyans in the United States ahead of the 81st United Nations General Assembly, where Kenya is also seeking to advance trade, investment and development partnerships.