Kenya to host Diaspora institute – Kibaki

KENYA is willing to host an African institute to facilitate Diaspora investment in the continent, President Kibaki has said. Speaking during an ongoing Kenya-Diaspora conference in London, the head of state said the country has offered to host the institute that is being considered by the African Union Commission. "We are hopeful that our bid will receive wide support," Kibaki said.

The institute will serve as a tool to assist the continent in building its capacity to improve the regulatory framework and address the high costs on remittances. “Your support of Kenya’s economy through your investments amounting to over one billion dollars annually is appreciated. I now urge you to embark on technological and skills transfer that will facilitate industrialisation and employment creation in Kenya,” said the President.