Kenyans living in the diaspora are investing effectively and getting to build copious housing projects from scratch without involving brokers who predate on their projects. The latest reports from the CBK on diaspora remittances show that diaspora investors lose almost a third of their cash due to fraud, theft, and misinformation. Most of them have lost billions due to investing through unreliable relatives who don’t employ professionals in the interest of making money for their own benefit. Located in the green Suburb of Nairobi County, near Kiambu County, sits an 87-unit Kitusuru Amani housing project consisting of 2 and 3-bedroom apartments across three blocks. The apartments are fully finished and ready for launch.
Read more: US, UK and Saudi Arabia Tops in Diaspora Remittances
The owners of the project are Jambo Diaspora Investment Group, which was founded in 2013. The group officially began conducting business in 2015 with over 100 members from various states in America. Wilson Wahungu, the firm’s CFO, testified that the project is a clear picture of Kenyans living overseas investing effectively and getting projects done to meet their standards. He further confirmed that the project is fully funded by members, and their official contractor is Landmark Holdings. The project was supervised through drones, Zoom meetings, and site visits. No brokers or middlemen were involved.
Read more: Diaspora Remittances Increased By 16.5% In March
Upon the completion of the project, many foreign citizens were inspired to start similar projects back in their home countries—building homes away from home. Such a project has contributed to Job creation in the country, where local contractors are used.
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