Odhiambo Ocholla of Suntra Investment Bank writes:
Kenya desperately needs development capital, and current inflows from remittances are fast becoming a source of financial resources.I propose that a Diaspora Development Bond be introduced with appropriate incentives to attract investment from our nationals in the Diaspora.Such a bond can be structured in such way that it does not compete with traditional remittances, as this would be an investment vehicle.
Diaspora development bonds are typically long-dated securities, which a country has to redeem only upon maturity. Thus, Diaspora bonds are a source of foreign financing that is long-term in nature.The Diaspora purchases of bonds issued by their country of origin are likely to be driven by a sense of patriotism and the desire to contribute to the development of the home country...[continue reading]
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