Mudavadi Pledges to Tap into Diaspora Resources for Economic Growth
According to Prime Cabinet Secretary Musalia Mudavadi, Kenyans living abroad possess valuable financial and intellectual resources that should be utilized to advance the nation's socio-economic progress.
While speaking at the diaspora investment conference on Wednesday hosted at the Kenya International Convention Centre (KICC), Mudavadi reiterated the importance of tapping into the rich resources and business connections within Kenya's diaspora to buttress the Government's Bottom-Up Economic Transformation Agenda (BETA). As the Foreign and Diaspora Affairs Cabinet Secretary, Mudavadi demonstrated the Government's pledge to engage the diaspora community through active participation to fully realize their potential.
The Prime Cabinet Secretary added that the monetary contributions made by Kenyans abroad to support their businesses and loved ones surpass US$300 million, showcasing their remarkable resilience and dedication. These remittances are a substantial provider of foreign currency, accounting for 3% of Kenya's GDP, and play an integral role in financing the country's current account deficit, bolstering the balance of payments, and maintaining the stability of the Kenya Shilling. Mudavadi reassured that the Government is committed to implementing a structured approach to diaspora engagements, focusing on active involvement, empowerment, and enablement.
Various actions have been taken to link diaspora policies with diaspora rights, aiming to connect and support Kenyans living abroad. These actions encompass dual citizenship, consular aid, voting rights, property rights, the ability to transfer social benefits, decreased transactional expenses, and simplification of bureaucratic processes. Mudavadi believes that the diaspora investment conference offers an opportunity to explore investments that are favourable to the diaspora and can contribute to a sustainable future for Kenyans residing overseas.
This assembly provides a crucial opportunity for networking and forming alliances that go beyond national boundaries. Additionally, it offers participants the opportunity to secure funding and partnerships with well-known financial institutions, which can greatly contribute to the advancement of the country's shared vision. Over the past year, the Ministry has made notable strides in fulfilling its obligations.
The Ministry has made a concerted effort to foster communication with stakeholders from different parts of the world, both in person and online. Additionally, they have actively supported the participation of diaspora communities in local investments and have made it easier for them to contribute to policy and legislative matters.
Comments (16)
Wishes you the best MDVD! The people in the diaspora are not as dumb as those people you lie to and con back home.
Well put. MDVD has Been a Phantom (not Real) since Highschool. Once a Phantom, Always a Phantom.
We can come home to resuscitate the dying government and the feeble economy if you could resign! We don’t need to hear your nonsense Mundavadi.
These old timers are the sole problem with our country. All they know to do is steal until they die, leaving Kenya broke to the core.
All this guy mundavadi is doing is to lie to the gullible people so he can double his shs 4 billion net worth for his family to live in comfort. We are tired of thieves!
We are sick and tired of lies and corruption in Kenya. I will not remit a single dollar to support conmen in the Kenya government. They should all be fired enmass!
Kenyans all over the world smell deceit and trouble anywhere these stooges appear! This guy is just telling a huge lie like his boss Ruto! They have no credibility and no one should believe anything they hot blow to the people.
What can this MDVD do for the Diaspora if he cannot even keep the electricity supply and generators working smoothly?? He is just lying to the whole world. Nothing you can believe can believe if said by a Kenya politician. Empty promises after empty promises. Go fix what is broken then come ask us to send you dollars - not mine though!
"According to Prime Cabinet Secretary Musalia Mudavadi, Kenyans living abroad possess valuable financial and intellectual resources that should be utilized to advance the nation's socio-economic progress" When did he realize this mmmmm...dictum?
To put it bluntly Mudavadi and those in power couldn't give two shits about the intellectual resources(those are actually an impediment to their end goals). All they care about are the $$, € and £. If you steal shillings, they are worthless outside the 254 but if you convert them to any of the above mentioned, then you can put the stolen funds in foreign bank accounts out of reach
All they want is our hard earned cash!!! Mostly bullshìt 🐂
Tapping on Diaspora resources! Read, taxing and more. They ought to leave us at peace.
Open a diaspora desk in your ministry where I can call directly and speak to a human being. We are tired of being lied to and coned by you. You are shameless to the core.
It's an oxymoron that Govt has highly educated persons in critical ministries like Treasury and others but they seem to have had their brains hijacked by the world bank and IMF. All they do is poverty adding programs from the neocolonial financial institutions.
Ndugu Musalia Mudavadi: Have you refunded into the Kenyan treasury the "Goldenberg Scandal" money that you were accused of having participated?
bust your matako build Kenya