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Discussion Starter · #1 · (Edited)
KENYA USA DIASPORA SACCO


Kenya USA Diaspora Sacco promotes investment opportunities and savings among Kenyans residing in the United States of America, so that they can have a reliable and organized way to invest, access to affordable credit, carry out projects, build businesses, or meet personal and family needs in Kenya. The Sacco was born out of needs and circumstances that Kenyans in the USA encounter everyday such as:
Banks that impose stringent financial requirements, which are not only cost prohibitive but make qualifications difficult.
Relatives and friends who often fail us by not executing our agreed upon instructions.
Unreliable means of investing our money back home.
Limited control and accountability of our investments and money in Kenya.




Kenya USA DIASPORA SACCO
 

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Discussion Starter · #2 ·
KENYA DISAPORA HOMES EXPO - New Jersey Exposition Center. Aug 31 - Sept 1 2014

KDH Expo links Kenyans in the Diaspora directly to Kenya’s Real Estate industry and the Kenyan business community at large.
Kenyans Diaspora Homes & Investments Expo is a subsidiary of the Telagen group. Its sister company Kingspride Properties is a Real Estate Development company with properties ranging from the middle level to the the top most in and around Nairobi. Easier to reach One-Stop-Shop Brought to Kenyan Diaspora Consumers. Exhibitors Perfect Direct Market to consumers.

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Discussion Starter · #3 ·
Good turnout at Kenyan real estate expo in US:



Kenyans from several US cities turned out in large numbers for this year’s Kenya Diaspora Homes Exposition (KDHE), held in Edison, New Jersey, over the weekend.

The event, the second of its kind in seven years, attracted stakeholders from the banking industry as well as international and Kenyan real estate developers.

It offered exhibitors an opportunity to market their products to a relatively new clientele, while at the same time giving prospective financiers like KCB and National Bank a chance to market themselves.

source NATION
 

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Discussion Starter · #4 ·
Plans for Kenya’s Diaspora bond complete



Treasury Secretary Henry Rotich is next week set to release initial details of a sovereign bond targeting Kenyans in the diaspora. he size of the diaspora bond, expected this financial year, will be dependent on new borrowing figures also to be announced next week.

In the wake of June’s successful $2 billion Eurobond, the Government has said it is looking at various options for another sovereign bond, including interest-free Islamic bonds, known as sukuk, and Yen-denominated debt instruments or samurai bonds.

Interest in State paper from Kenyans abroad has shifted attention to a diaspora bond.


Mr Rotich said that the Government received the balance of the Eurobond cash this week. This will see Treasury review downwards the amounts it plans to borrow locally and in the international market.

“Once I have those revised borrowing figures, I’ll know how much we we’ll get outside and what we’ll borrow locally,” he said.

He added that to issue the diaspora bond, Treasury will only need to revise the documentation it used for the Eurobond. The paperwork needed for a sukuk, which requires the hiring of Islamic scholars and finance experts, could explain why that option may not take off.

Earlier this week, Mr Rotich said that the diaspora bond option was also chosen because it does not carry any foreign exchange exposure. The bond is denominated in the Kenya shilling.

The enthusiasm Kenya and other countries have for sovereign bonds is not without its critics. Just this week, the head of the World Bank Sri Mulyani Indrawati warned Kenya and other African nations against issuing too many bonds and “spending like there is no tomorrow”.

“To be clear, raising debt on the international markets and increasing spending are standard tools for any finance minister,” she argued. “But this should not be a race for issuing more and bigger bonds and shouldn’t result in out-of-control spending.”

READ MORE - BDAFRICA
 

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Discussion Starter · #7 ·
Remittances from US lift transfers to record Sh11.34bn

A 22.4 per cent month-on-month rise in diaspora remittances from the US lifted the transfers to a record Sh11.34 billion ($128.8 million) in the month of August providing a measure of comfort to the Kenya shilling.
Latest data from the Central Bank shows overall month-on-month diaspora remittances increased by 10 per cent or Sh1 billion between July and August. Compared to August 2013, remittances last month represented an increase of 20.3 per cent.

US remittances in August topped Sh5.63 billion ($64 million), the highest monthly figure this year, while those from Europe and the rest of the world came to Sh2.78 billion ($31.5 million) and Sh2.93 billion ($33.3 million) respectively.

CBK governor Njuguna Ndung’u described the remittances as “encouraging outcome” coming at a time when hard currency inflows into the country have been hit by lower tourist numbers arising from security concerns and reduced earnings from tea and horticulture. Cumulatively, the remittances in the eight months to August 2014 stood at Sh82.5 billion, compared to Sh73.8 billion over a similar period last year.

READ more - from the BUSINESS DAILY
 

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Discussion Starter · #8 ·
Kenyan diaspora to import vehicles duty-free from November, Uhuru Kenyatta says

NEW YORK

President Uhuru Kenyatta has announced that Kenyans living abroad will be allowed to bring in right-hand-drive models duty-free starting November 2014.

The President made the announcement when he met Kenyans living in New York, US, at a reception on Thursday night.

President Kenyatta had in August pledged that the government would facilitate those with left-hand-drive vehicles to substitute them with right-hand-drive ones and import them duty-free.

However, there was a delay as the East African Community (EAC) had to be consulted.

TEMPORARY ARRANGEMENT

President Kenyatta said the consultations with the EAC will be held in January next year but a temporary arrangement has been made, which is set to begin in November.

Under the program, those who live in countries like the United States, where vehicles are left-hand, will be allowed to import a right-hand vehicle of similar value duty-free.

The President said the government would be vigilant to avoid those who would seek to exploit the system.

“Don’t try to import a Range Rover when you have been driving a Toyota where you live because that would be cheating Kenyans of tax,” the President said.

ECONOMY

He said a communication on the procedures to be followed has been released to Kenyan embassies and missions.

The President also called on Kenyans who live in the United States to use their networks to encourage more Americans to invest in Kenya’s growing economy.

“Help us to channel US investments to Kenya because we will prefer American investments driven by the Kenyan diaspora” he said.

The President said the government was creating an enabling environment for investors and wants to target the diaspora to have a bigger stake in the Kenyan economy.

He said the government was working hard to strengthen institutions to promote the economy and service delivery to Kenyans.

'HATE MESSAGES'

President Kenyatta at the same time asked Kenyans in the diaspora to stop spreading hate messages through social media.

The President said Kenyans in the diaspora were more involved in spreading hate messages and called on them to instead promote unity.

“Why should some of you who live in a country like the United States that accepts all people be the ones spreading ethnic competitions?” he said.

Foreign Affairs Cabinet Secretary Amina Mohamed said the government was working closely with the Independent Electoral and Boundaries Commission (IEBC) to make arrangements that would allow the Kenyan diaspora to exercise voting rights in the next elections.

She also said that the Foreign Affairs ministry will in three weeks’ time launch an online portal to serve Kenyans living in different parts of the country.

SOURCE
 

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Discussion Starter · #10 ·
Diaspora talks aim to double remittances to Sh240 billion

The government has organised a diaspora conference in Nairobi that seeks to entice Kenyans living abroad with investment opportunities in a bid to double remittances to more than Sh240 billion.

Mr Zachary Muburi-Muita, the Director of Diaspora and Consular Affairs at the Foreign Affairs ministry, said the conference will be jointly funded by the government and the private sector at a cost of Sh40 million.

During the event, which will be held from December 19 to 20, the national government will explain to Kenyans in the diaspora the services they could access through an online Huduma Centre.

At the physical Huduma Centres in the country, Kenyans can get all government documents under one roof.


The Independent Electoral and Boundaries Commission will also sensitise the participants on the modalities of voting while abroad, as the new constitution allows Kenyan citizens to vote from wherever they are in the world.

Only those in the East African region voted in the March 4, 2013 General Election but the courts ordered that all Kenyans in the diaspora should be allowed to vote in subsequent elections.

County governments have also been roped in to exhibit the investment opportunities in their devolved units.

Various private companies will also have stands with opportunities that the Kenyans in the diaspora can take advantage of.


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Source NATION
 

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Discussion Starter · #11 ·
Jambo Africa Restaurant wins Torchlight Award in Minnesota




A restaurant owned by a Kenyan has been voted the best African eatery in the state of Minnesota, United States.

Jambo Africa Restaurant, which is located at the Brooklyn Centre on Shingle Creek Parkway, beat other African eateries in the Midwestern region to emerge the overall winner of Torchlight Award.

The Torchlight Foundation recognises achievements made by African immigrants in the fields on culture, education, entertainment, fashion, and philanthropy.

“Our brothers and sisters are out here doing big things and we at Torchlight do not only honour their work, but inspire others,” said Stephen Ngang, the Foundation’s Director.

The winning restaurant is run by Mr George Ndege Jojo and his Liberian partner Mr Simone Chambliss.

ReadMore _nation
 

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Discussion Starter · #12 ·
Kenyan American cultural festival opens in Atlanta

This year’s Kenyan American cultural and drama festival opened in Atlanta over the weekend where performers showcased their artistic talents through theatre.

The event, whose theme is “Living by God’s Promises” saw hundreds of Kenyans from different cities in United States gather at the Kenyan American Community Church in Marietta, some 15 kilometers West of the Georgian capital.

On Sunday, the fete was marked with pomp and colour as performers from four regions took to the stage with plays exploring various topics ranging from moral corruption, administrative mismanagement to pastoral impropriety.

They included Powder Springs, Delk, Kennesaw and Gwinnet Districts.

Every year, Kenyans living in the South Eastern region of the United States get together to showcase their culture through performing arts and cultural exposition.

“The standards in this year’s performances are very high,” said Mr Chege Maina, one of the adjudicators of this year’s festival.

“Through drama, these people are telling us about themselves, the successes and challenges they face as immigrants and they do it so creatively,” added Mr Maina, who has attended all the shows since the festival began in 2007.

The festival, which is spread out through the year, features plays, poetry, traditional dances, fashion show and a cultural exhibition.

Patricia Wanga, who had travelled from Jacksonville, Florida, told the Nation that she was impressed by Sunday’s performance.

"It is a clear testament that despite being far away from our motherland, we haven’t lost cognisance of the fact that our society is a beautiful cultural mosaic,” he said.

The event closes on Sunday, October 26 at 4pm when the winners will be announced.



source NATION
 

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Discussion Starter · #13 · (Edited)
State opens web portal for registration of Kenyans in diaspora

The government has launched a web portal where Kenyans living abroad can register.

Foreign Affairs Cabinet Secretary Amina Mohammed said the portal, http://diasporaportal.eurocom.co.ke , will also work as a notice board where the government can communicate major events, changes in programmes and ask those in diaspora for suggestions on policies.

The portal will also act as a platform to advertise investment opportunities in Kenya which those in the diaspora could be interested in.

Users will be required to create accounts by giving information such as passport and national ID numbers, as well as full names.

ELECTION PROMISE

Deputy President William Ruto, who launched the portal, said the platforms fulfills part of the Jubilee manifesto.

“Diaspora is a very important component. They contribute immensely to the socio-economic development of our country. This means we can now harness their potential and expertise to grow this nation,” he said.

“We did promise we will have one (portal). I am happy to say that we can now start using it.”

At the event, the Ministry of Foreign Affairs also launched its four-year strategic plan with seven objectives that include how the diaspora will be involved in marketing the country abroad.
SOURCE

WEBSITE

 

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Discussion Starter · #15 ·
So, I'm not impressed that this website is called ...eurocom... That just seems fake. Kwani the government has no space on its domain name, .go.ke? It just seems fake and not right.
Good point it should be a .go.ke, site - i wonder whether they outsourced this project, because it does not look like the regular KE website designwise.
 

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Discussion Starter · #16 ·
Tough vehicle import rules for Kenyans abroad

Only Kenyans returning home permanently and have owned left hand drive cars abroad for at least one year will be allowed to replace and import right-hand vehicles without paying duty as the Treasury moves to seal off tax-evasion loopholes.

Under the new guidelines developed to allow owners of left-hand vehicles to enjoy tax concession when they return home, the Treasury says beneficiaries will also have to prove disposal of previous vehicles.

“These guidelines shall only apply to residents returning from countries that operate left-hand drive vehicles who had previously owned and used them in the country of former residence,” the Treasury says in the guidelines that it has issued to the country’s foreign missions.

Kenya allows its citizens living abroad to ship in their right-hand vehicles without paying duty when they finally come back to settle.

This benefit has, however, not been available to citizens that reside in more than 160 countries that use left-hand vehicles. The list of affected states includes Rwanda and Burundi, which have, since 2007, become part of EAC and other states like US and Russia.

When he visited the US last year, President Uhuru Kenyatta promised tax relief for returning Kenyans who replace their left-hand drive vehicles. The directive, which was meant to take effect from November, was delayed up to this month to enable the Kenyan officials lobby other East African partner states.

The green light given early this month by the regional bloc EAC means Kenyans returning from any of the affected countries will be spared the 25 per cent import duty and 20 per cent excise after replacements. read more

Source BDAFRICA
 

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Discussion Starter · #17 ·
Ministry targets diaspora to drive investments.

The government will this week play host to Kenyans living abroad in a three-day conference it hopes will encourage them to invest back home.

The meeting kicks off Tuesday, with a golf tournament at the Windsor Golf Hotel & Country Club in Nairobi before it is officially opened on Wednesday by President Uhuru Kenyatta at the same venue.

Foreign Affairs Principal Secretary Karanja Kibicho on Monday said the golf tournament was one of the enticements they were offering to attract Kenyans living abroad.

"This unique conference sets out to chart new frontiers for the diaspora. It aims to create a platform for interaction, networking and investment opportunities amongst the diaspora and other stakeholders in order to deepen diaspora integration into national development," Dr Kibicho said.

A concept note prepared for the meeting shows that it will be the "climax of diplomatic activities" that follow a meeting of Kenyan diplomats in Mombasa last week.

At least 500 participants are expected to attend.

They will mainly be Kenyans living abroad, Kenyans returning home, stakeholders from the financial and investments sectors, real estate champions, hospitality players, Kenyan envoys abroad as well as foreign diplomats accredited to Nairobi. read more

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Whoever came up with this idea of diaspora conference through a golf tournament need to wake up. This is just wastage of resources and they are just entertaining themselves. Who said all investors are golf players? In fact the majority don't know the rules of golf let alone playing it. I have spoken to Key diaspora leaders and none is aware of the event leave alone attending. The government need to meet this group in the diaspora not in Kenya. You do not call the fish to the fishing hook but you instead place the hook where the fish is.
 

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Discussion Starter · #19 ·
Whoever came up with this idea of diaspora conference through a golf tournament need to wake up. This is just wastage of resources and they are just entertaining themselves. Who said all investors are golf players? In fact the majority don't know the rules of golf let alone playing it. I have spoken to Key diaspora leaders and none is aware of the event leave alone attending. The government need to meet this group in the diaspora not in Kenya. You do not call the fish to the fishing hook but you instead place the hook where the fish is.
I have two relatives who recently moved back home, and they also have no clue about the event - So who are the 500 or people going - someone should step aside :)
 

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Discussion Starter · #20 ·
Uhuru assures diaspora of inclusion in Kenya's development agenda

President Uhuru Kenyatta today affirmed the Government’s commitment to mainstreaming the Kenyan diaspora in the country’s development agenda.

He said government is focused on creating an enabling environment that will integrate the Kenyan diaspora and enable them to invest in national development. “In this process of integration, the main thrust must be to unlock and maximize the hitherto untapped promise of the diaspora and use this energy to carry our country to greater heights, while at the same time meeting the needs and expectations of Kenyans abroad at every point in time,” the President said.

President Kenyatta made the remarks when he opened the Kenya Diaspora Easter Investment Conference 2015 – the first of its kind – at the Windsor Golf Hotel in Kiambu County.

While Kenyans living abroad remitted Sh130 billion in 2014, the president emphasised the need for these remittances to be structured.He cited the launch of the African Institute for Remittances in Nairobi in November last year as one of the measures taken to encourage diaspora engagement in the country’s economic growth.

SOURCE BDAFRICA
 
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