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Diaspora University Town Adds Bank Development Plan

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Diaspora Kenyans working on the Diaspora University Town development plan have added a Bank development plan in the project. This now creates six main development plans: Town, University, Medical Hospital, Bank, Tourism, and 500 SMEs (Small Medium Enterprises). The bank will be started to offer financial services and products to the Town as the development begins.

The bank that will be started as a Microfinance Bank will anchor the Jobs Creation plan. The Diaspora who understand how micro level finance can facilitate jobs creation having been part of the process look to support jobs creation through micro-finance products that support jobs creation.

The bank will also create micro finance investment products that will enable Diaspora be part of the property development opportunity in Kenya. The bank working hand in hand with Diaspora University started alongside the bank will enable Diaspora and Kenyans become developers of residential and commercial property.     

The bank will also create financing opportunity for Diaspora who look to become part of the 500 SMEs (Small and Medium Enterprises) at the Diaspora University Town and elsewhere in Kenya.

Kenya banking sector grew from Kshs 1 billion deposits in 2009 to about Kshs 3 trillion deposits by 2017. By 2022 the bank deposits will grow to about Kshs 6 trillion. The loan advances will also grow to about kshs 5 trillion. The bank started by Diaspora will look to be part of the banking growth in the next 5 years. 

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