U.S Company to Facilitate Kenyan Real Estate Developers To Raise Billions From Diaspora Capital
The United States and the United States Africa Opportunity Network (USAFON) will facilitate Kenyan real estate developers to raise billions of dollars from diaspora investors in an event hosted at Safari Park Hotel.
Kenyan real estate developers will soon learn how to access a pool of investment capital from the US for development projects in Kenya.
This will happen in a much-anticipated event planned by US Africa Opportunity Network (USAFON), a US based company, the Kenyan consulate in Los Angeles, US Government agencies and capital raising experts from the US. The event will take place at Safari Park Hotel, Nairobi.
Some of the US agencies expected to speak at the event includes Prosper Africa, which facilitated venture capital deals between US and African private sector in the excess of $1 billion in 2020. The event will be co-sponsored by Equity Bank, the largest bank in East and Central Africa.
It will be graced by experts on Diaspora Financing and Portfolio Investment from the USA, the Kenyan government and Private sectors.
The stakeholders will then engage in round table discussions with a view to opening focus on dispora as another avenue of raising capital for investment in the housing sector in Kenya.
With a rich lineup, the developers will be addressed by various experts who will cover every angle from leveraging diaspora funds to deliver the affordable housing agenda to how to raise diaspora funds from the Americans.
They will be specialists who will also address the opportunities and challenges that the developers are likely to encounter should they embark on the journey.
At the end of the event, the developers will understand the enormous potential in raising capital among the dispora, as well as learn the intricacies of raising such funds and connect with experts who will hold their hands in raising capital if they so wish.
The event, which is set to attract hundreds of real estate developers in the country will also enable the attendees to know how to handle such funds within both the American and the Kenyan laws and how to work with Kenyan banks for such transactions.
This is not a new concept that is introduced to the developers as most of the renowned developers have since used these strategies to achieve their thirst of acquiring funds for their massive developments.
Centum Re, led by James Mworia, has been on the frontlines of using these methods to get funds. Earlier on this month, the company announced that they had signed an agreement to raise Sh17 billion from Luxembourg-based private equity firm GEM Global Yield LLC CSC through a partial share sale.
The company, which will also be present at the USAFON organized event, has been able to develop thousands of homes as well as holds large parcels of land in Kenya and Uganda.
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