Govt Lays Out Ambitious Plan to Increase Diaspora Remittances to Ksh1 Trillion in 3 Years
Prime Cabinet Secretary Musalia Mudavadi announced on Thursday, August 29, the Kenya Kwanza administration’s strategy to boost diaspora remittances beyond the Ksh 671 billion received in the past year.
During the Western Kenya Edition of the Diaspora Job Fair at Mbale High School in Vihiga County, Mudavadi shared Kenya’s goal to raise diaspora remittances to Ksh1 trillion.
Achieving this would mark a Ksh329 billion increase and align with the government’s broader objective of generating employment opportunities for Kenyans, addressing the local job market’s current challenges.
“We aim to push remittances to a trillion by 2027. This is attainable as the number of Kenyans abroad grows, thanks to our government’s efforts and bilateral agreements.”
According to Prime CS Mudavadi, diaspora remittances have now overtaken all traditional foreign capital sources, emerging as the largest contributor of foreign funds to Kenya’s economy.
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The CS further urged Kenyans working overseas to uphold high standards of discipline, proudly represent Kenya, and foster a positive image in their host nations.
Mudavadi also highlighted the global demand for Kenyan professionals, noting their strong work ethic and expertise, which have earned them a high reputation abroad.
The Prime CS stressed the significant impact of international job opportunities on increasing the country’s foreign revenue and enhancing the lives of Kenyan families.
In the past, there have been concerns that the Kenyan government’s weak policies may deter diaspora remittances. Issues like double taxation have also been a concern for those working abroad.
While Mudavadi encouraged Kenyans to continue seeking employment opportunities overseas, he mentioned that the Kenya Kwanza Government is also focused on job creation within the country.
He disclosed that Israel has shown interest in investing in Kenya’s agricultural sector through Foreign Direct Investment, which is expected to create jobs locally.
Govt Lays Out Ambitious Plan to Increase Diaspora Remittances to Ksh1 Trillion in 3 Years
