The government has set out measures to protect the wealth of Kenyans living abroad to entice them into investing back home.
In a Bill approved by the Senate on Wednesday, January 12, the state intends to offer incentives to encourage the expatriates to support the move.
The Kenya Citizenship and Immigration (Amendment) Bill sponsored by Murang'a Senator, Irungu Kangata, seeks to have the Ministry of Foreign Affairs collaborate with Kenyans in the diaspora to form associations and a saving scheme.
"The Cabinet Secretary (Foreign Affairs) may, in consultation with the CS Finance and the Governor of the Central Bank of Kenya (CBK), develop policies and programmes offering incentives to Kenyans living abroad to invest in Kenya.
"They will also put in place measures for the prevention of fraudulent practices that hinder investment, in Kenya, by Kenyans living abroad," details the Bill.
Kang'ata further recommended the Foreign Affairs CS to oversee the voluntary savings scheme for Kenyans living in the diaspora.
"The CS shall, in consultation with the relevant Kenya mission, promote the establishment of voluntary saving schemes for Kenyans living abroad," the Bill adds.
The Senate approved the Bill at a time when the cases of Kenyans living in the diaspora being swindled by Ponzi schemes have been on the rise.
On December 30, 2021, police busted a syndicate that conned an expatriate Ksh30 million.
The gang crafted a scheme in which they promised the unsuspecting victim a lucrative contract with the United Nations Office for Project Services (UNOPS).
According to the Directorate of Criminal Investigations (DCI), the con artists promised to secure a multi-million deal for the Kenyan, that would see him supply 1000 vials of cancer treatment medication to the agency.
However, the syndicate vanished after he wired the money to them, prompting him to seek the intervention of the DCI.
Notably, Kenyans have also been duped into buying non-existent land and houses in prime areas.
