Rigathi Gachagua has urged Kenyans living abroad to consider establishing a bank they own, arguing that remittance charges could instead help build value in a diaspora-controlled institution.
Citizen Digital reported that the DCP leader made the proposal while addressing business executives at Silo Modern Farmhouse in Kansas City during his United States tour. Its account dated the engagement to 18 September.
Gachagua’s argument was that Kenyans sending money home should examine how to retain more of the fees and commissions generated by those transfers. He linked the idea to the availability of sufficient start-up capital.
The remarks amount to a political and business proposal. The report did not announce a named institution, an operating licence, a share offer or a confirmed group of investors. Readers should not interpret the speech as an invitation to deposit money into an existing bank.
The next evidence would be a published business plan and clear information about ownership, the intended jurisdiction and regulatory approvals. Those details would allow the proposal to be assessed beyond the campaign platform.
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WHAT TO WATCH NEXT
- Gachagua raised the idea during his Kansas City engagements.
- Watch for an actual business plan and regulatory details.
