Over 2,500 diaspora Kenyans expected to grace summit

More than 250 Kenyans in the diaspora have registered for the Year of Return Africa Summit 2024, scheduled for October 8 – 9 in Nairobi.

The summit, hosted in partnership with Abana International Organisation, I Choose Life – Africa (ICL), and Abanaverse Ltd, among others, aims to unite Africans, the diaspora, Caribbeans, and Americans from the business community.

The forum seeks to equip them with skills and facilitate access to cross-continental markets, affordable finance, and support, all while nurturing unicorn startups in Kenya.

Themed "Igniting Africa’s Entrepreneurship… Fueling Unicorns," the summit will feature three main focus areas: The 1 Million Youth Challenge, The Unicorn Summit, and Climate Smart Green-Preneurs.

It anticipates participation from 2,500 delegates, including 50 speakers and 1,000 international guests. Additionally, the event will offer 500 sector-based masterclasses and host 100 exhibitors showcasing innovative solutions in sectors such as technology, AI, trade, environment, fintech, sports, and real estate.

"We are at a pivotal moment with YORA 2024," remarked Peter Kegode, convener of the Year of Return Africa (YORA) Summit 2024. "This summit is not just about reconnecting Africans worldwide; it's about igniting entrepreneurship and fueling unicorns across Africa. Through strategic partnerships and impactful initiatives, we aim to attract both local and international investors to support the next generation of African businesses," said Kegode.

The group has also planned a series of roadshows and masterclasses on international trade. These initiatives aim to raise awareness among Africans and Kenyans in the diaspora about investment opportunities and facilitate their seamless reintroduction into African society.

As of May 2024, diaspora remittances to Kenya were at Sh52.2 billion, an 18.9 per cent increase from the previous four months.

This brings the total remittances for the first five months of 2024 to Sh206 billion, a 12.8 per cent increase from the same period in 2023. The US remains the largest source of remittances to Kenya, accounting for 48 per cent in May 2024.

Rentworks Director Cliff Mukulu emphasised the significant gap in integrating locals and Kenyans in the diaspora and stressed the necessity of fostering an enabling environment for investments. Key areas highlighted include infrastructure, skill development, and access to capital.