Ajabu Africa News

By:

HARRISON MAINA

Posted:

Oct,15-2015 12:39:03

BOSTON, MA__Ever dream of starting a major business or bringing a top-rated franchise back to your motherland, but you are hamstrung by lack of capital or technical support? If so, a major investment forum in Boston next week is your answer.

Organized by theUS Overseas Private Investment Corporation, USAID's East Africa Trade & Investment Hub,and theAspen Institute's Diaspora Investment Alliance (DIA)in partnership with the Eastern Africa Diaspora Business Council (EADBC),the Aspen East Africa Investment forumwill take place at the Westin Boston Waterfront Hotel located in Boston at 425 Summer Street from 4:30pm to 8:30pm on Tuesday, October 13^th, and continue all day from 7:30am to 8:30pm on Wednesday, October 14^th.

The Aspen Institute Diaspora Investment Alliance (DIA), the parent organizer of the event, is a collaborative effort between the Rockefeller Foundation and the Aspen Institute that is designing a targeted and coordinated approach to facilitate the strategic investment of financial and human capital from diasporas to their home countries. DIA's primary goal is to more effectively channel investments from diaspora communities into their countries of origin.

According to Alexander Dixon, Executive Director of DIA , the forum is part of DIA's innovative platform to help the diaspora create businesses in their communities of origin.

"In many economies around the world, diaspora investors play a catalytic role in generating new foreign direct investment (FDI) through the establishment of diaspora-owned companies, which have eventually attracted other companies."

He said that the massive impact of such diaspora investment in their motherlands have been observed in countries like China, India, and Armenia where economies have been transformed, and in turn positively impacted the lives of ordinary citizens.

"We want to bring the same benefits these countries have gained to East African nationals living in the Boston region.There will be panels on franchising by leading industry experts for East Africans looking to bring US franchises to East Africa. There will be financiers and banks that have packaged special diaspora deals to finance potential business that will be started in East Africa. It is very crucial for any ambitions and enterprising man or woman to attend the forum and get information on how to get their dreams on the move," Dixon added during a telephone interview with Ajabu African News.

Crucial information will also be disbursed on investment and procurement opportunities available in various industries like agriculture and agribusiness, ICT and innovation, financial services, renewable energy, cotton, textiles and leather and more.

"This Diaspora Investment Forum will be part of theOverseas Private Investment Corporation's (OPIC) EXPANDING HORIZONS;A workshop for Small Businesses entering the International Markets.The OPIC experts will discuss the financing and insurance products it makes available," said Ben Kazora, president of Eastern Africa Diaspora Business Council (EADBC) in an email statement to Ajabu Africa News.

He added that Trade Specialists from partners including the US Department of Commerce, the Small Business Administration (SBA), and the US Trade and Development Agency will also be on hand to talk about their programs.

Among the guest speakers confirmed for the event include Kenya's KCB Bank Group CEO, Joshua Oigara, KenInvest Investment Promotion Manager Pius Rotich, the USAID East Africa Trade and Investment Hub, the Overseas Private Investment Corporation, the World Bank, and CFWshops Board Member Michael Seid.

"One-on-one appointments for attendees to meet directly with US Government officials to discuss specific needs will be made available.DIA will hold workshop panels on Eastern Africa regional investment environment and opportunities, franchising, youth and entrepreneurship, as well as a diaspora networking reception," added Kazora.

Organizers urged Kenyansand other East African nationals in the entire New England region to register for and attend the event in large numbers as a way of finding out how they can practically get started in investments back home.

According to DIA, Foreign Direct Investment is a cornerstone of economic growth, job creation, and industrial development for many frontier markets.It is for that reason that the organization is targeting the diaspora communities of Kenyaand the East African region in order to bring the opportunity to them.

According toreliable data from the Central Bank of Kenya (CBK),just by themselves, Kenyan nationals in the diaspora have been remitting an average of USD 1.5 billion a year ($125 million a month) for investment and social support of their relatives and loved ones back home.

"With financing and opportunities available through the forum, no one needs to rely on their own savings to start their original business or bring a franchise opportunity back in Kenya. This will make it so much easier. Register now and plan to attend," urged Dixon from the Aspen Institute.

Aspen has arranged with OPIC a special discounted rate of $35 a person for diaspora participants. Participants who plan to attend can purchasetickets online via Eventbrite [CLICK HERE]. Once registered, participants who attend the EAC Diaspora VIP receptions on October 14th with KCB's CEO should RSVP [CLICK HERE].KenInvest will also hold a private briefing and networking reception on October 13^th thatEAC diaspora members can attend by registering [CLICK HERE].

For more information on the event or if you experience difficulties registering please contact Diaspora Investment Alliance Program via the following email ID:DIAspora@aspeninstitute.org.

Source:

AJABU AFRICA NEWS