KENYANS IN THE DIASPORA TO HOST INVESTMENT CONFERENCE IN NAIROBI

NAIROBI, Aug 1 (NNN-KBC) — More than 100 organizations representing an estimated 100,000 Kenyans in the Diaspora have come together under an umbrella association (International Confederation of Kenyan Diaspora Organizations) to champion active participation in the country’s socio-economic space.

As a follow up to the recently concluded GES 2015, the International Confederation of Kenyan Diaspora Organizations (ICKDO) will hold a conference on Aug 1 at a Nairobi Hotel.

Dubbed the “Kenya Diaspora Special Homecoming Conference”, the event will focus on developing strategies for smart collaboration, where local entrepreneurs and innovators can launch enterprises in partnership with Diaspora investors, international funding sources and County governments.

“Kenyans in the Diaspora could potentially support local enterprises to the tune of US$ 1 billion on an annual basis. With the emerging synergies post GES 2015, we are optimistic that a supportive framework would make it possible for Kenyans in the diaspora to play a pivotal role in the development of the country’s vibrant entrepreneurship sector”, said Tegi Obanda, ICKDO Co-Chair.

“The Central Bank of Kenya estimate that Kenyans in the diaspora currently remit up to US$ 350,000 every year, purely for supporting small businesses and investments in the country; however the reality is that painful losses as a result of fraud, failed models and poor accountability make it increasingly difficult to realize tangible long-term benefits. Through this first conference, we expect to lay a firm foundation that will make it easy for Kenyans in the Diaspora to invest in opportunities locally, while also lending their expertise to the sound growth of local enterprises”, he said.

Participants in the one -day conference will include representatives from various diaspora organizations, representatives from the country’s 47 counties, local innovators and entrepreneurs.