President William Ruto, in New York for the 81st United Nations General Assembly, met with Kenyans living in the United States and witnessed the signing of a joint Declaration of Intent among the Kenya Government, the United Nations, and Equity Group Holdings. The Declaration was signed by Prime Cabinet Secretary Musalia Mudavadi on behalf of the Government, Equity Group Holdings CEO James Mwangi on behalf of the private sector, and the UN Resident Coordinator in Kenya Garry Conille on behalf of the diaspora.
The joint declaration aims to deepen ties, formalize declarations of intent, and unlock strategic investment and national development opportunities through the Kenyan diaspora. The initiative, spearheaded by the Ministry of Foreign Affairs and the State Department for Diaspora Affairs, includes the launch of the Kenya Diaspora Impact Platform, a digital platform offering opportunities for Kenyan and other investors in the diaspora.
President Ruto described the Kenyan diaspora as an important part of Kenya's growth story, not only due to the remittances they send home but also due to the investment, expertise, innovation, and global networks they have built. He emphasized that the Government is building a stronger bridge between Kenyans abroad and opportunities at home founded on trust, transparency, and measurable results.
The President explained that the new platform will enable Kenyans in the diaspora to know which investments are available for them at home, cautioning that trust and transparency are crucial in the successful implementation of the initiative. He pointed out that there are many investment opportunities in housing, health, and agriculture, among others, in Kenya for citizens living and working in the diaspora.
President Ruto also addressed claims that handpicked local marketers act as costly middlemen in the Government-to-Government (G-to-G) fuel import model, dismissing them as unfounded. He stated that the model has stabilized supply and foreign exchange, with consistent and reliable product supply, and no rush for foreign exchange as used to be the case.
The President highlighted his administration's achievements, including major reforms in the agricultural sector, education, housing, health, savings, digital infrastructure, and roads. He mentioned that national savings at the National Social Security Fund have increased from KSh320 billion in 2023 to KSh690 billion now, and are expected to hit KSh1 trillion by June 2027.
Key points
- The Kenyan government, the United Nations, and Equity Group Holdings have signed a joint Declaration of Intent to deepen ties and unlock investment opportunities for the Kenyan diaspora.
- President Ruto emphasized the importance of trust and transparency in the implementation of the Kenya Diaspora Impact Platform.
- The President highlighted his administration's achievements in various sectors, including a significant increase in national savings.
