The goal of Prime CS Mudavadi is to raise diaspora remittances to Ksh1 trillion.
On Thursday, August 29, Prime Cabinet Secretary Musalia Mudavadi disclosed the Kenya Kwanza administration's intention to enhance remittances from the diaspora, which amounted to Ksh 671 billion and were sent into the nation during the previous year.
Speaking at Mbale High School in Vihiga County at the Diaspora Job Fair: Western Kenya Edition, Mudavadi disclosed that Kenya aims to raise diaspora remittances to Ksh1 trillion.
In light of a local report of a labor shortage, this would constitute an increase of Ksh329 billion and align with the government's broader objective to provide work possibilities for Kenyans.
"By 2027, we hope to increase remittances to one trillion. This is made feasible by the growing number of Kenyans living abroad as a result of bilateral agreements and government action."
As per Prime CS's statement, remittances from the diaspora have overtaken all conventional foreign capital sources and are now the primary source of overseas cash contributing to Kenya's economy.
The CS continued by urging Kenyans employed overseas to preserve the strictest disciplinary codes, proudly fly the Kenyan flag, and project a favorable image in their new nations.
Throughout his speech, Mudavadi extolled the virtues of Kenyan talent abroad, emphasizing how in-demand Kenyan professionals are due to their strong work ethics and domain knowledge.
The Prime Minister stressed the vital role that opportunities on foreign territory play in boosting the nation's foreign earnings and enhancing the standard of living for households across the board.
Concerns have previously been expressed, with the Kenyan government being held accountable for having lax rules and failing to take action to deter Kenyans living abroad from sending money home.
Those who work overseas have also been concerned about the problem of double taxes.
Although Mudavadi urged Kenyans to keep seeking for opportunities overseas, he also stated that the Kenya Kwanza Government is investigating the possibility of producing jobs domestically.
He revealed Israel has expressed interest in investing in the agricultural sector through Foreign Direct Investment that will create employment in the country.