KCB Diaspora Banking Solution to Encourage More Investments

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Citizens of Kenya living in Australia and the United Arab Emirates (UAE) have been given the opportunity by the Kenya Commercial Bank (KCB) to utilize the vast investment and economic opportunities in the country.

Sectors like the building and construction alongside the property markets have been indicated as a booming source of income by the bank. To this effect, a month-long tour of Australia and the United Arab Emirates is being embarked upon by the bank.

The KCB Head of Diaspora Banking, Vincent Aberi said that for most of the bank’s customers living in the diaspora, trust is usually the most important when retaining their investment. Therefore, the bank ensures to provide banking solutions which reassures the customers through a very detailed and inclusive process.

The tour by the KCB diaspora team is aimed at giving the customers in those countries the required information on the booming market trends back in Kenya. Mr Aberi also added that the bank already provides clients with a 360-degree service which includes buying, building, getting approvals, selling and managing of lands to give more value.

From reports sent in by the Central Bank of Kenya, the data shows that in the last two decades, Kenyans in diaspora have contributed greatly to the revenue of the country. Hence, encouraging them to invest more will increase the country’s revenue generation.

With the KCB providing banking solutions to Kenyans in Australia, Canada, United States, and some parts of Africa, Europe and the Middle East, the diaspora community contributed a total of KShs 185 Billion in foreign exchange to country ahead of tourism and horticulture.