Diaspora Gets Closer to Home

East or west, home is best. There have been proverbs, sayings, stories, and so much more on how we always long for home. It is hard for one to forget where they grew up and who they grew up with. After all, it is the connections developed during our formative years that we cherish and never let go of.  

When all grown, some of us get the opportunity to go away from home and make something for ourselves. Some of these opportunities present themselves outside the country. For those old enough to remember, this brings nostalgic memories. Writing letters, waiting by the telephone booth, sending postcards, and more. A lot has changed in less than two decades. Who would have thought back then that there would have been a device you can hold in your hand and literally see the person from the other end? Yet, here we are. Today, being away from home doesn’t necessarily mean losing your connection from home. The relationship is almost always there. 

What hasn’t changed, however, is sending money back home. This has given most people a sense of “not forgetting home”. Over the years, this has become an essential source of growth to the economy. According to the Central Bank of Kenya, in 2010, the total remittances to the country was $642 million. This figure in 2020 alone was at $2.54 billion (almost triple what it was in 2010), making it a top foreign exchange earner in the country. In 2021, it seems the country is on track to break this record as the first seven months alone have earned the country $2.09 billion. Basic projections would have this figure past $3 billion by the end of 2021. 

At the core of this foreign remittances are financial institutions. As one of them, Credit Bank seeks to provide a platform convenient for these remittances. It is simply banking, just like you were at home. Just like the telephone booth changed to a device you could hold into your hand, so has our banking. At the touch of a button, you can pay bills (like school fees, electricity), send money to a mobile money wallet (like M-Pesa), transfer funds to other accounts, and so much more. This is all enabled through Konnect Banking. It is all like you never left home – you pay a bill and send some money too, jump on a video call with your loved one and tell them wacha Watoto wakunywe soda leo! 

Our commitment to diaspora clients has been strengthened further through our partnership with the Kenya Diaspora Alliance. KDA is the lead Diaspora organization in Kenya today, bringing together over 44 registered organizations in the Diaspora and many other individual members. Through this partnership, you can access investment opportunities such as real estate, capital markets, consultancy, and more. 

The best way to get started from the diaspora is by opening a Nyumbani Diaspora Account. Nyumbani means home, and home is where the heart is. 

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