The Kenyan government, the United Nations and Equity Group Holdings have signed a new agreement aimed at increasing investment and development opportunities for Kenyans living abroad.
The agreement was signed in New York during President William Ruto’s visit to the United States for the 81st United Nations General Assembly.
The initiative seeks to strengthen the connection between Kenyans in the diaspora and opportunities available in the country.
A new Kenya Diaspora Impact Platform was also unveiled as part of the initiative.
The digital platform is designed to provide Kenyans living abroad with information on investment opportunities and ways they can contribute to development projects back home.
The programme will focus on several areas, including financing small and medium-sized businesses, supporting community projects, creating enterprises and transferring skills and knowledge.
President Ruto said Kenyans living abroad contribute to the country not only through money sent home but also through their professional skills, experience, innovation and international networks.
The initiative is expected to make it easier for members of the diaspora to identify investment opportunities in sectors such as housing, healthcare and agriculture.
The government also wants the platform to create a more direct connection between diaspora investors and opportunities in Kenya.
Prime Cabinet Secretary Musalia Mudavadi signed the declaration on behalf of the Kenyan government, while Equity Group Holdings CEO James Mwangi represented the private sector.
UN Resident Coordinator in Kenya Garry Conille also took part in the signing.
The partners said trust and transparency would be important for the success of the initiative.
The platform is expected to help Kenyans abroad turn their resources and expertise into long-term investments while supporting businesses and development projects in the country.
The agreement comes as the government continues to seek greater involvement of the Kenyan diaspora in national development.
The initiative could also create new opportunities for small businesses and entrepreneurs by connecting them with financing, skills and potential investors from abroad.
With millions of Kenyans living and working outside the country, the government hopes the new platform will provide a more organised way of linking diaspora resources with investment opportunities at home.