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Diaspora investment-kenya or abroad?
Rank: Member Joined: 8/29/2008 Posts: 571
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Kenyans living in the diaspora tend to invest heavily in Kenya.While that is good for the kenyan economy,it may not be particularly good for those investors.Majority- more than 90% of kenyans in diaspora,never return home(unless they are dead).So,why invest in a country you might never live in?The greatest hindrance to advancement of Kenyans abroad,is their pre-occupation of making mis-placed investments in Kenya and reducing their working capital for development in their adopted countries.Like I said before,why invest where you don't live?
Ali Baba
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Rank: Member Joined: 3/17/2008 Posts: 25
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Ali Baba,
Glad you brought this up. I was discussing with a friend yesterday,about how our state of mind is perpetually in Kenya mode even when we have and will spend a great deal of time away from Kenya. In doing so we spend a great deal of mental and financial capital in a country we barely live in and one we are not sure our children will like either.
I think part of the reason may be due to the fact that many Kenyan's immigrated to the diaspora when they had advanced in age - in their 20s,30s and even 40s. At such age,you probably have some greater ties & commitments back in Kenya,whether it is family left behind,investment,etc.
For this group of people,the goal is to raise some capital for investment back in Kenya and secure their retirement.
Perhaps people who emigrated with their parents as kids and teen,and those born in the diaspora to immigrants will have a different perspective about Kenya and may not see it as we do.
It is also possible that we assume that the markets abroad would shun our products or services - a race prejudice thing - making us unwilling to take the risk to begin businesses abroad and prefer Kenya.
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Rank: Member Joined: 7/1/2009 Posts: 11
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its a homing instinct thats in every one of us..including animals.. www.a4architect.comwww.prismafrica.com
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Rank: Member Joined: 9/11/2007 Posts: 19
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I would invest in both and its not all for nothing. Its takes less to invest in Kenya,because of the rate of exchange. Just 2 investments,when you are not in the country-housing and long term shares.
Sometimes you also spend money in life,because you believe in something. Hehe i am alright and i was born in Kenya-i would want my kids to make that choice,home or adopted Country.
My believe is there is no country like Kenya. I have travelled and have friends and assocites that travel alot. They all feel the same,we all can'nt be wrong. I travel to Kenya twice a year,to stay in touch.With all our poverty and dis-organised gover,its still the only place you see geniune happy people and feel like home. Its takes a week of annoyance and frustration,soon forgotten. But when i want something i will get it and i have never bribed anyone or asked by the way. Just that look i got from mathee,be careful you are crossing the line.
Am yet to meet a person that has retired abroad,comfortable and very happy. Infact it would be interesting,to know where they go. Its the fast world when we hit that age,you will soon be unfit to stay at home alone. It will be that home that has grave yards not too far,infact over the fence. You could almost bury yourself,not to far to walk or float.
So am investing and will continue to invest,because i am coming home.
M
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Rank: Member Joined: 4/7/2008 Posts: 26
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The reason why Diasporians invest heavily back home is the fact that no matter how long you are in any foreign country you will always be a foreigner. Human beings have a need to feel that they belong.Why do you want us to invest in countries that are drafting laws daily to keep us out.What do i tell my kids when i see on TV being referred to as a legal or illegal Alien ??????
Our country might not be perfect but at least when i am there,i am a citizen with no other defination attached to me.I invest there because i want to go back home as soon as am done with my projects. With all the insecurity and bad roads,Kenya is still the place to be. Nothing can replace the genuine happiness that you feel when you are home.There is no day that goes by that i do not think about Kenya.
Najivunia kuwa Mkenya.
HOPE IS NOT A STRATEGY FOR INVESTING
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Rank: Member Joined: 8/29/2008 Posts: 571
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Question.....how many diasporan investors can u count who have actually retired to kenya??
Ali Baba
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Rank: Member Joined: 4/7/2008 Posts: 26
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I do not know your angle as far as Diasporians returning home.Within the last 1 year,i know of at least 10 of my friends who have returned home.By the way they never went back to retire,the returned home where they came from.Many more are planning to do the same. We all left our country for greener pastures.Once you have achieved your goals i do not see why not.From the look of things you will be the only Diasporian left in the next 15 years.
Question:::::When is the last time you went home?.
HOPE IS NOT A STRATEGY FOR INVESTING
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Rank: Member Joined: 8/29/2008 Posts: 571
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You are so long.....the last time I went home? I was there from Dec 2,2008 to June 1,2009.Leaving in 6 months and I'll be done with abroad.
Ali Baba
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Rank: Member Joined: 12/4/2008 Posts: 341 Location: Nairobi
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Investment like any other commitments in life is informed by many factors but ultimately its the good returns whether in the short,medium or the long-term that dictates the when,where and the how. I believe that most Africans,Kenyans included(generally) tend to be informed by social persuasions when it comes to making many of their far-reaching decisions. I think that should answer the question why Kenyans abroad feel obliged to invest back home. Most countries also craft laws that favour,encourage and/or protect investments by their own citizens. While you invest in your host country,it is always advisable to check the extent to which the law in that country protects your investment as a foreigner. What happens say,when you want to repatriate such investments? Patience Pays in Guaranteed Checks Patience Pays In Guaranteed Checks.
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Rank: Elder Joined: 2/23/2009 Posts: 1,626
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developed countries have lower returns on investment than developing countries.its a risk and return relation.then consider funds can be attained cheaper abroad than in kenya.personally i don't think they have to come back to kenya as long as your money can reach you any place you're located. Live for today,act for tomorrow. Uncertainty is certain.Let go
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Rank: Member Joined: 5/25/2007 Posts: 149
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Investing in Kenya is a frustrating endevour. I remember that day when Raila had said that 'the boom at the stock exchange was driven by drug money.' I had all my investments in Kenyan stocks.
There is no security investing in Kenya. and when Obama speaks with the lense of a foreigner Kenyans claim that he is putting them down instead of learning and making better institutions.
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Rank: Member Joined: 3/23/2007 Posts: 127
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Frustrations hazikosi… but I’m heavily biased towards investing back home… this being only the 2nd yr working in diaspora… I know of some Kenyan couples who have opted to take up mortgages overseas…which too me makes sense since they have growing kids… but eventually the parents plan to go back to Kenya once kids are off to college…the trick is to invest in both places side by side… plus the whole point of investing is to have a comfortable lifestyle when you retire… au sio
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Rank: Elder Joined: 2/27/2007 Posts: 2,768
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we certainly should not expect anyone else to develop our country apart from kenyans themselves. i believe repatriation of resources,e.g technology,human and financial are good for development of the country and as such those diasporas who invest back home are developing kenya.... NEVER TALK OF A RHINO IF THERE IS NO TREE NEAREBY - ZULU PROVERB ...besides, the presence of a safe alone does not signify that there is money inside...
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