New partnership targets Diaspora cash

By FREDRICK OBURA

Small and Medium Enterprises are set to benefit from a newly found partnership between Brand Kenya and the London-based Kenya Overseas Business Alliance (KOBA).

Through the business relationship, Brand Kenya (a national marketing body) now entrust KOBA to anchor its activities abroad. This includes highlighting various lucrative sectors of investment to Kenyans in the Diaspora. “The need to launch this partnership is informed by emerging opportunities in areas like engineering, health, security, agriculture, and tourism in the country, which needs further funding,” said Finance PS Joseph Kinyua.

“The only way to attract funding and speed up growth in our economy is to promote private outfits like KOBA to engage in aggressive marketing abroad,” he said.

He said the creation of counties under the new Constitution calls for investment in sectors like legal services and the Information and Communication Technology.

local expatriates

“There is need for an independent body to bring together local expatriates leaving abroad to help in these areas.”

Through various periodical International expos, KOBA is expected to link up the Diaspora with local businesses for opportunity identification. KOBA is also expected to lobby for better investment policies with the Government.

The alliance comes at a time when the Government is addressing key issues that are strategic for achieving Vision 2030 goals.

Apart from improving on the infrastructure and reforming the financial sector, measurable developments have been witnessed in the business regulatory environment.