Ruto unveils diaspora investment platform in New York

During the meeting, President Ruto also defended the Government-to-Government (G-to-G) fuel importation mode.

President William Ruto has unveiled a digital platform aimed at connecting Kenyans living abroad with investment opportunities in the country and promoting their contribution to national development.

The Kenya Diaspora Impact Platform was launched on Sunday evening during a meeting between the President and Kenyans living in the United States in New York.

The platform, spearheaded by the Ministry of Foreign Affairs and the State Department for Diaspora Affairs, is designed to deepen engagement with the Kenyan diaspora, formalise investment commitments and unlock opportunities in strategic sectors of the economy.

The launch coincided with the signing of a joint Declaration of Intent involving the Kenyan Government, the United Nations and Equity Group Holdings.

The Letter of Intent was signed at 30 Hudson Yards in New York by Prime Cabinet Secretary Musalia Mudavadi on behalf of the Government, Equity Group Holdings chief executive James Mwangi representing the private sector, and UN Resident Coordinator in Kenya Garry Conille on behalf of the diaspora.

Speaking during the meeting, President Ruto described Kenyans living abroad as an important part of the country's growth story, noting that their contribution extended beyond remittances to include investment, expertise, innovation and global networks.

The President, who is in New York to attend the 81st United Nations General Assembly, said the new platform would facilitate diaspora participation in community projects, financing of micro, small and medium enterprises (MSMEs), enterprise development and skills transfer.

“This platform we have unveiled today has been developed to elevate the diaspora role in community projects, financing MSMEs, creating enterprises and transferring skills and knowledge while connecting Kenyans abroad to opportunities that meaningfully contribute to national transformation,” he said.

President Ruto said the Government was working to establish a stronger link between Kenyans abroad and investment opportunities at home, anchored on trust, transparency and measurable results.

“We want to make it easier for those in the diaspora to convert assets and enterprises into long-term wealth,” he said.

He identified housing, healthcare and agriculture among the sectors offering investment opportunities to Kenyans living and working abroad.

The President, however, cautioned that the success of the initiative would depend on the reliability of information and transparency in its implementation.

“Trust must be at the centre for this initiative to succeed. Information must be reliable and transparency should be the operating principle if the platform has to achieve its objectives,” he said.

During the meeting, President Ruto also defended the Government-to-Government (G-to-G) fuel importation model, describing it as a critical measure for stabilising fuel supplies and managing foreign exchange.

He dismissed claims that selected local oil marketers were acting as costly middlemen in the arrangement.

“If there is anything we got right immediately we took over the leadership of the country in 2022, it was to eliminate brokers in the importation of fuel. At the time, most fuel stations had run empty,” President Ruto said.

He maintained that the model had improved the consistency and reliability of fuel supplies while reducing pressure on foreign exchange.

According to the President, several countries had visited Kenya to study and benchmark the system.

He challenged critics of the model to familiarise themselves with its operations instead of misleading Kenyans about its effectiveness.

The Head of State also used the meeting to outline what he described as key achievements of his administration in agriculture, education, housing, healthcare, savings, digital infrastructure and road development.

He urged Kenyans in the diaspora to seek reliable information about developments in the country rather than relying solely on social media.

The President said national savings under the National Social Security Fund (NSSF) had increased from Sh320 billion in 2023 to Sh690 billion.

He attributed the growth to the introduction of a contribution system based on six per cent of an employee’s salary, matched by a similar contribution from employers.

“When I came to office in 2022, Kenyans were contributing as low as KSh200 to NSSF monthly. This payment was introduced in 1966. For close to 60 years, NSSF had collected KSh320 billion. But in 2023, the Government introduced a contribution of 6 per cent of an employee's salary, with employers paying a similar amount,” he said.

President Ruto projected that national savings would reach Sh1 trillion by June 2027.

He further defended the Social Health Authority (SHA), urging Kenyans abroad to disregard what he termed misleading criticism of the programme.

The President said SHA had registered 33 million Kenyans since October 2024, compared with between six million and seven million members under the defunct National Health Insurance Fund.

“I want to say without fear of contradiction that through SHA, we have transformed the delivery of health in Kenya,” he said.

He also said the digital economy, affordable housing and the Kazi Majuu Programme had created millions of employment opportunities for young Kenyans.