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Diaspora Kshs 1 Trillion to Contribute to Kenya Economic Boom 2017 – 2022

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2009 Central Bank of Kenya (CBK) and World Bank report 2009 Central Bank of Kenya (CBK) and World Bank report

On December 2009, a Central Bank of Kenya (CBK) and World Bank Report, recorded the Kenya banking financial system as made up of 45 banks; the Deposits were Kshs 1.006 trillion and the Loan Advances Kshs 721 billion. In September 2017, CBK reported the Diaspora remitted Kshs 18 billion. At an average of Kshs 18 billion the Diaspora in next 60 months, September 2017 to August 2022, are on track to remit Kshs 1.08 trillion. This will grow the Kenya Bank deposits by Kshs 1 trillion and Loan Advances by over Kshs 720 billion.

Kenya University Project (KUP) system of development is a system set-up based on tapping Diaspora Capital that becomes Loan Advances. The KUP – Diaspora University Town on progress to start will be August have tapped billions of the growing loan advances. KUP Town House Developer system will enable person’s access this capital as they develop Town Houses planned in the project. 

The Law firm of Attorney Kamau in Diaspora that has over the years set the legal system for making Diaspora property developers has close to 1,000 property developer files open today. The Attorney says, “This is a golden chance for Diaspora that many should take advantage of.”

The Town Houses developed will support the creation of 20,000 new jobs as a town of 30,000 residents is developed through an Institution Town development plan that is already approved.    

“Diaspora Kshs 1 Trillion will continue to have an impact on the Economic Boom in Kenya 2017 – 2022,” the Diaspora Kenyans working on KUP – Diaspora University Town agree. They project that the Kenya economy will grow past the 10% Gross Domestic Product (GDP) mark per year with this capital playing a role in advancing GDP growth as more jobs are created. 

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