Cytonn targets Kenyan diaspora with US subsidiary
A local real estate investment firms has moved to tap the Kenyan diaspora in the US.
Cytonn Investments Management Friday announced the establishment of its US based affiliate company to deliver real estate solutions to Kenyans living in the diaspora.
Dubbed Cytonn Diaspora; the company is based in Delaware, USA will serve the diaspora – one of Cytonn Investments Management’s main clientele. The firm appointed Mr Hetal Nathwani as the business lead for Cytonn Diaspora.
Cytonn Managing Partner Edwin Dande said the initiative is meant to take investment services closer to Kenyans living in the diaspora whose investment potential has largely remained untapped.
“Kenyan diaspora involvement with investments in Kenya is critical to economic growth. Cytonn Diaspora is a platform that brings together the Kenyan diaspora abroad, national and county governments locally, and attractive investment opportunities locally in order to connect capital from the Kenyan diaspora to investment opportunities locally,” Mr Dande said.
Cytonn has a number of diaspora clientele some of which are global institutional and high net-worth investors. Initially, Cytonn Diaspora will focus on real estate before expanding to other sectors.
Cytonn Diaspora business lead Hetal Nathwani said the move provides an opportunity to net in more clients as well as provide services more conveniently.
“Clients expect service and responsiveness. Cytonn Diaspora effectively takes the front office function close to the diaspora client and enables us to deliver the best client service and respond quickly to the unique diaspora needs,” Mr Hetal said.