Diaspora Kenyans founding Diaspora University Town (DUT) have started the $500 million Diaspora Remittance DUT plan 2023-2028. The plan will the money create 30,000 jobs.
Diaspora remittances come from jobs created abroad
From 2004 to 2022 the Diaspora Kenyans collectively remitted $29 billion (about Ksh 3 trillion).
The Diaspora remittances were part of growing Kenya Deposits from Ksh 378 billion (2004) to Ksh 4.7 trillion (2022). The loan advances given from the deposits grew from Ksh 252 billion (2004) to Ksh 3.3 trillion (2022).
Based on the over $4 billion remittance in 2022, the projection is that the Diaspora remittances in the next 5 years (2023-2028) will be over $20 billion (about Ksh 2.5 trillion).
The $500 million is 2.5% of the $20 billion.
Bankers tour DUT Tree Nursery as they consider partnering.
Diaspora Kenyans through DUT are progressing talks with banks in Kenya with the Diaspora Banking division or looking to explore the Diaspora Market.
The goal is to partner with a bank interested in advancing jobs creation in Kenya.
The DUT Plan will create over Ksh 50 billion deposits through the $500 million Diaspora Kenyans remittances, 30,000 jobs savings and other plans.
The DUT plan creates an opportunity for Diaspora Kenyans to get Ksh 45 billion loans and own properties at DUT and in the 47 Counties where Diaspora University project centers will be located.
The $500 million Diaspora Remittances Plan will in next 5 years be part of creating about 30,000 jobs through the following plans:
Planting of trees at Diaspora University Town (DUT).
This is the plan of 1,500 acres.
The plan has 3,778 plots of different sizes serviced by a 60 km road network.
The plans for jobs creation are:
About 70% of the $500 million from Diaspora will be invested and loaned to:
Ndara B 28 Companies Plan
Ndara B Community is progressing to open 28 Companies.
The 14 industrial and 14 farming companies will gradually create 5,000 jobs by the end of 5 years.
About 10% of the $500 million from Diaspora will be invested and through the bank loaned to some of the 28 companies.
Diaspora University will have 47 project centers in all the counties.
Diaspora Kenyans will develop diverse property to support the project centers through housing for students when at DU project center.
Diaspora Kenyans will invest individually or collectively to establish the center and the MSMEs that the students will work with when in the centers.
About 20% of the $500 million from Diaspora will be invested in Property, MSMEs shares and individual MSMEs at the places where the Diaspora University project center will be set up.
The Diaspora Kenyans through the $500 million will own the following assets:
The $500 million will grow to about $700 million in 5 years through the properties, shares and cash in bank accounts. The Diaspora Kenyans benefit will be about $200 million.
The assets will also be making income and returns as the 30,000 persons work every day in the University, Hospital, Town and MSMEs as well as when the workers’ pay rent or mortgage of the residential property.
The DUT property development plan is as follows:
Dan Kamau Project Director (Formerly of Worcester, MA) shows the construction & mortgage development system
Manufactured Materials at DUT Site
The DUT design-Build budget of Ksh 38.3 billion will pay:
Would you like part of your income in the next 5 years to come and create jobs as you own property and MSMEs in Kenya?