Prime Cabinet Secretary Musalia Mudavadi on Thursday, August 29 revealed the Kenya Kwanza administration’s plan to increase diaspora remittances from the Ksh 671 billion funneled into the country in the past one year.
Speaking during the Western Kenya Edition of the Diaspora Job Fair at Mbale High School in Vihiga County, Mudavadi revealed that Kenya is eying to increase diaspora remittances to Ksh1 trillion.
This would represent an increase of Ksh329 billion and fit in with the government’s larger plan of creating job opportunities for Kenyans amid an employment squeeze reported locally.
“We want to push the remittances to a trillion by 2027. This is possible because Kenyans in foreign countries are increasing through our government’s intervention and bilateral agreements.”
According to Prime CS, diaspora remittances have now surpassed all traditional foreign capital sources, becoming the largest single contributor of overseas funds to the Kenyan economy.
The CS went ahead to encourage Kenyans working abroad to uphold the highest standards of discipline, carry the Kenyan flag with pride, and maintain a positive image in their host countries.
While delivering his remarks, Mudavadi spoke highly of how highly Kenyan talent is rated overseas, revealing Kenyan professionals are in high demand globally because of their work ethic and expertise.
The Prime CS emphasized the critical role opportunities in foreign land play in ramping up the country’s foreign revenue and improving the lives of families nationwide.
Previously, concerns have been raised with the government of Kenya being blamed for having weak policies and not taking measures that might discourage Kenyans in the diaspora from sending cash back home.
The issue of double taxation has also been worrying those working abroad.
While Mudavadi encouraged Kenyans to continue applying for jobs abroad, he has also said that the Kenya Kwanza Government is looking into creating jobs locally.
He revealed Israel has expressed interest in investing in the agricultural sector through Foreign Direct Investment that will create employment in the country.
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