Kenyans Abroad to Send Money to Govt in New Scheme

Share

Kenyans Abroad to Send Money to Govt in New Scheme

The upcoming enactment of the Labour Migration and Management Bill, 2023 by the government will introduce a savings program tailored for Kenyans living abroad once it receives approval.

The bill, nearing the end of its ratification process, specifies that the Foreign Affairs Ministry will oversee the establishment of a fund dedicated to development initiatives.

This initiative will involve collaboration with pertinent Kenyan diplomatic missions and will offer a voluntary savings plan designed for migrant workers.

JOIN OUR WHATSAPP CHANNEL

“The Cabinet Secretary responsible for matters relating to foreign affairs may liaise with financial institutions in Kenya to negotiate favourable terms on the investments of any contributions that may be made,” the Bill reads in part.

According to the provisions outlined in the Bill, the Treasury Cabinet Secretary will receive regular updates on the progress of the savings scheme.

Furthermore, in collaboration with the Minister of Foreign Affairs, the Treasury CS will formulate policies and initiatives aimed at encouraging migrant workers to invest in Kenya.

Moreover, a database managed by the Kenyan government will be established, containing comprehensive information related to the scheme.

This database will encompass various investment opportunities, programs, and projects available in Kenya for migrant workers to consider, among other pertinent details.

In Other News: Twist as Tanzanian Politician Detained for Hours While Entering Kenya

Kenyans Abroad to Send Money to Govt in New Scheme

WE ARE SOCIAL

6,566FansLike
1,000FollowersFollow

Read more

Join our WhatsApp channel and be part of the community.

To join, simply click the link icon provided on our website.