Kenyans have also in recent years increased investments in real estate and the capital market, with the US, Canada and the UK topping the list.

The US and Canadian diaspora community has been mobilising investment through Saccos.

The most recent is the Pamoja Canada Diaspora Sacco Society Limited unveiled in Toronto after three years of intense preparations.

The event was attended by Kenyans living in Canada and graced by Kenya High Commission and other invited guests from across the Greater Toronto Area.

The Diaspora Sacco draws its identity from its vision, mission, core values and its overarching goal, according to leadership. It aims to promote thrift, welfare and mutual economic interests among its members through provision of savings, investments and loan opportunities.

It gives Kenyans in the diaspora and the returnees confidence as they now have something to resonate with in relation to their grand projects back at home, its leadership noted.

It allows members to mobilise their savings, thereby providing affordable loan facilities for the promotion of their social and economic well- being through cautious management and product diversification, while considering the interests of all stakeholders including the Muslim Community.

For their saving modes, members can opt to spread their portfolios in main, fixed deposit, young dreamers, emergency or holiday accounts. Other Sharia-compliant products are in the process of being launched in 2024.

Â

https://www.the-star.co.ke/business/kenya/2024-06-17-diaspora-inflows-rise-to-shsh522bn-in-may/