Diaspora Remittances Surpass Traditional Earnings as Kenya’s Top Foreign Exchange Source
Deputy President Kithure Kindiki has announced that, at over Sh500 billion, diaspora remittances are now Kenya’s primary source of foreign exchange, overtaking traditional sectors like tea and tourism. He outlined the government’s aim to increase these remittances to one trillion shillings while addressing concerns raised by the Kenyan community in Namibia regarding immigration and trade.
Deputy President Kithure Kindiki recently announced that diaspora remittances have become Kenya’s foremost foreign exchange earner, surpassing Sh500 billion. During a meeting with Kenyan representatives in Namibia, he acknowledged the critical role played by the diaspora in supporting various sectors, including tea and tourism, traditionally known as the country’s leading earners. Kindiki expressed gratitude, stating, “We thank you for what you’re doing for our country, the diaspora community. You play a huge role in developing our nation.”
The Deputy President further outlined the government’s objective to boost remittances to one trillion shillings. He communicated the intent to prioritize the diaspora’s contributions, emphasizing, “Our target, of course, in the manifesto of Kenya Kwanza is to get a trillion remittances. We place diaspora in a very special place, because you are helping develop our country, and we value that input.”
During the meeting, members of the Kenyan community in Namibia expressed concerns regarding immigration, travel logistics, and trade issues. In response, Kindiki reassured them of the Kenya Kwanza administration’s dedication to resolving these challenges promptly. He stated, “The things you have said here, it is in our interest as a country to unlock all of them without exception. I want to assure you will resolve them in the shortest possible time.”
This meeting followed Deputy President Kindiki’s attendance at the funeral of Namibia’s founding President, Sam Nujoma, where he represented President William Ruto. The discussions highlighted the government’s commitment to supporting Kenyans abroad while looking to the future of remittances as a critical component in national development.
In summary, Deputy President Kithure Kindiki has recognized diaspora remittances as Kenya’s leading source of foreign exchange, emphasizing the significant impact these funds have on the country’s development. With a goal set to reach a trillion shillings, the administration aims to address concerns raised by the diaspora community, fostering a collaborative effort towards national growth. Kindiki’s commitment to these goals underscores the importance of the diaspora in Kenya’s economy.
Original Source: www.the-star.co.ke
