Deputy President Gachagua Urges Kenyans in the Diaspora to Invest in Treasury Bonds
Deputy President Rigathi Gachagua has urged Kenyans residing abroad to consider investing in Treasury bonds and bills.
Speaking on October 25, during an interactive session with Kenyans in Belgium, Gachagua emphasised the favourable returns offered by the government securities. He highlighted the government's efforts to facilitate the purchase of these bonds. He emphasized that government-backed securities are the most reliable way to invest in Kenya, offering attractive interest rates. Gachagua also noted that investing in these bonds would enable Kenyans to earn the same interest rates currently paid to foreign lenders.
In addition to bonds, he encouraged diaspora Kenyans to explore the affordable housing program, which offers affordable housing options in well-connected areas. Gachagua is in Belgium to represent President William Ruto during the Gateway Summit in Belgium, organized by the European Commission. At the forefront of the Kenya Kwanza government citizens' welfare initiatives is the housing project to offer affordable and comfortable homes to the people. These affordable homes are built on public land and provide the necessary basic amenities, which eliminate the costs of parks, roads, and electricity.
The Deputy President of Kenya has assured overseas citizens that their contribution is greatly appreciated by the Ruto government and earnest efforts will be made to collaborate with them. He points out the establishment of the State Department of Diaspora Affairs as evidence of the government's dedication to addressing their concerns and capitalizing on their investment potential. To boost citizen participation in national affairs, the DP has announced plans to simplify the procedures for obtaining and updating travel documents and other crucial paperwork.
The Ruto government is focused on implementing effective e-governance to make consular services more efficient. By doing so, individuals living abroad will have greater access to voting opportunities and key policy insights. Additionally, the Deputy President emphasizes that the healthcare system has been revamped to improve its effectiveness, efficiency, and comprehensiveness. He says that the government has developed a program that will provide coverage for terminal illnesses. The contribution for this program has been organized in a way that ensures those with higher incomes contribute more, while those with lower incomes contribute less. Additionally, those who do not earn an income will receive assistance free of charge.
Comments (17)
What happened to the Diaspora bond? The government is broke and fiscally irresponsible these government and treasury bonds might end up like Ghana's 🇬🇭 unable to pay....
What happened to the diaspora bond?
Why invest in a broke and fiscally irresponsible government?
These politicians will always promise the moon for a country that they have totally messed.The ordinary folks don't want the moon just a decent standard of life.
One can invest in treasury bond and bills of other developed countries but investing in such in Kenya is simply exposes your money to thieves! Anything Riggy G gets his hands on will simply disappear in thin air! Beware folks!
No thanks!
Ummm oh hell no. Unless your returns are in $$$ it's a bad idea - the shilling has lost 24% against the dollar in a 12 month period meaning a 15% annualized return would have cost you money.
Smart Kenyans will invest where ever there will be the best R O their I.Since borrowing has pretty much topped off,it time for the gov.to figure out how to tap into diaspora cash.The interest rate better be very attractive 10,20,or 30 years is along time till maturity of the bond,with probably semi annual interest payments.A rental house could give you a better return as landlords are demanding payments in dollars...
I would not invest dollars in Kenya! If they are defaulting what they owe in Kenya shillings, how are they gonna afford to pay dollar investors back when the maturity period comes? Kenya is financially on the death bed and nothing can be done to resuscitate the country’s financial systems as long as Ruto, Rigathi and all those thieving CSs are in charge! Keep your dollars in an American Bank or other investment portfolios offered in the developed countries! Let those thieving politicians figure out how they will turn around the dying economy alone! They got it at the current situation by stealing and mismanagement but now they want us to throw good money into the bad money so they can continue stealing! Hell NO!!!
There is no guarantee that the government will honor the instrument after it matures. I know someone who was told that the instrument was a forgery and was never paid.
Kwenda wewe! We live and breathe America therefore we will only put our dollar close to home.
Who has time to watch the Kenyan market while abroad?
That picture of Riggy strikes an amazing doppelganger to the late Sammy Wanjiru,the marathon runner...Just an observation.No I am not starting any rumours about consanguinity...
The guy Riggy is a typical meathead! He probably got several bad sperms all over Kenya; just like his buddy Ruto! He is just an idiot.
Haiya...I see that .weuh! Shall we start the rumor though hopefully he won't hunt us down ..............
Hahaha. I would be more worried about his wife.If @ Wesley is right,Riggy could be an a rigorous campaign to sour wild outs...
There are so many other financial vehicles folks in the diaspora can invest in and get a better guaranteed return. Investing with the Kenya government is a sure way of throwing your hard earned money into the Ocean where the money with sink like the old Titanic ship! Only a fool would invest in the third world countries where politicians act as greedy hyenas to steal anything and everything in the coffers or invested with the government. Rigathi is simply lying to those in the diaspora to invest in a risky financial asset back in Kenya. Do not do it!!
I will invest in TimbUtku Bond before Kenyan BOND.
What is it specifically does Riggy wants the folks in the diaspora to invest in?? The scammers in Kenya have created such a bad investment environment to a point most us are running away from investing in Kenya. Folks are getting conned land. houses, businesses, etc! Government is also quick to bring down any structure standing any where. Why should any one invest in such uncertain place? The corruption with the builders is at all time high! I know of someone who got conned a lot money (millions of shillings) by a builder called Anthony (Tony) Muriithi located in Nairobi but he is from Mwea Tambere! It is no longer worthy it investing in Kenya!