Unlocking the Potential of Diaspora Engagement and Investment

At the inaugural Diaspora Investment Conference held on December, 13, and organized by the State Department for Diaspora Affairs, our fellow Kenyans who reside outside the country were warmly welcomed back home at the KICC.

Some of them even came straight from the airport to listen to President William Ruto participate in a panel discussion alongside key representatives from the diaspora. It is important to acknowledge the significant number of Kenyans living in various countries, striving to make a living and seeking opportunities. The conference featured a panel discussion with President William Ruto and key diaspora representatives. Their stories and insights painted a vibrant picture of a community scattered across the globe, each member striving for success and seeking opportunities to make a difference.

As of 2020, the number of Kenyans living abroad surpassed 535,000, 1.07 per cent of the estimated 50 million population. Currently, the diaspora community has surpassed three million, constituting approximately six per cent of Kenya’s population. Beyond borders, their remittances tell a powerful story, exceeding $4.02 billion or more than Sh600 billion as of September 2022. In 2022 alone, remittances experienced an impressive 8.34 per cent increase. The global dispersion of Kenyans is evident with the United States hosting the largest contingent of approximately 157,000 individuals, followed closely by the United Kingdom with around 139,400. Saudi Arabia stands out as a home to over 100,000 Kenyans.

Kenya is poised to unlock its potential, drawing inspiration from the success stories of China and India which leveraged their diaspora for economic growth. China strategically sent students abroad, fostering technology transfer, a move that played a crucial role in their ascent to becoming an economic powerhouse. The diaspora population of both China and India, over 10.7 million and 17.9 million respectively, showcases the transformative impact of global connections. The diaspora’s potential to become a driving force in Kenya’s prosperity is underscored by the World Bank’s projection that China and India will be the first and second-largest economies by 2048.

With one per cent of Kenya’s population abroad contributing to almost 17 per cent of the annual budget by 2023-24, the call to harness this opportunity for national development resonates louder than ever. The diaspora’s reach is far and wide, evidenced by the ancestral ties of historic figures like Barack Obama and Rishi Sunak to Kenya. As the government strives to ensure the welfare of Kenyans abroad, including the successful rescue of over 1,350 distressed citizens in the past year, there are ambitious plans to establish a consulate in Bogota, Colombia.

Following the examples set by countries like France, where diaspora MPs are elected by citizens abroad, Kenya can strengthen its connection with those who proudly carry its identity across borders. Legislative amendments for the inclusion of the diaspora in governing bodies will further solidify their role in shaping Kenya’s narrative on both national and international fronts.