Oklahoma-Texas Diaspora tour

ABC Bank is coming to Texas and Oklahoma- 20th September, 2016

ABC Bank is planning a week long marketing blitz to the US in an effort to strengthen ties with its Diaspora customer base as well as create new relationships. The 10-day trip will see the bank’s Diaspora banking team traverse through Texas and Oklahoma States and hold meetings with different groups of Kenyans living and working there.

The highlight of the tour will be the East African Chamber of Commerce Trade Conference to be held in Dallas, Texas from September 29 to October 1 at the Sheraton Galleria. The fair is aimed at promoting trade and investment between USA and East Africa as well as encourage entrepreneurship as a job and wealth creation avenue.

The trip is part of ABC Bank’s strategy on Diaspora engagement and partnership-building to harness the emerging opportunities both in the US and in Kenya that the Diaspora Community can take advantage of. The fair will provide an opportunity to the team to meet with over 3,000 Kenyans drawn from across USA and Canada.

Led by the Head of Diaspora Banking Joseph Waithaka- who has lived and worked in Oklahoma for the past 16 years- the team will also attend a church service in Texas on October 2, where they will meet about 400 Kenyans. They will also hold a Town Hall meeting with the Kenyan community in Texas the following day, where they will interact with about 200 Kenyans.

ABC Bank recognizes the crucial role Kenyans in Diaspora play in building the economy of the motherland Kenya, and is keen on partnering with them to conveniently midwife that process.  For instance, Kenyans working abroad increased the money they sent back to the country by 6.3 per cent in June to hit a record Sh15.6 billion, according to the latest data from the Central Bank of Kenya (CBK). The data further shows that remittance inflows from North America increased by Sh831 million or 11.9 per cent and accounted for 49.3 per cent (Sh7.79 billion) of total inflows in June while inflows from the rest of the world increased by 13 per cent.

Higher Diaspora remittances help narrow the country’s balance of payments deficit thereby supporting the local currency. Diaspora remittances are the single largest contributor to foreign exchange ahead of major exports such as tea. This all-important cash flow from abroad is crucial in cushioning the shilling from dollar pressures.

Besides Texas, the team will also tour Edmond and Oklahoma City in Oklahoma State where they will have a series of meetings which will culminate in a nyama choma (roast meat) hangout with the Kenyan community there.

ABC Bank prides itself in providing distinguished financial service to Kenyans in the Diaspora, focusing not on remittances only, but on investments as well. Some of the investment products the bank offers to Diaspora clients (groups and individuals) include construction and project financing, mortgages/home loans, land purchase financing and asset financing among many others. The bank also offers professional investment advice to customers to enable them make informed investment decisions and enlighten them on the best investment opportunities available in Kenya.

Additionally, ABC Bank has a wide range of international money transfer services that customers can use to conveniently and securely send funds to their loved ones back in Kenya. Our award-winning Internet Banking service and user-friendly iOS and Android App which offer customers a borderless, seamless and convenient banking experience; secure local and international account-to-account transfers, mobile transfers and much more. It literally makes you your own bank teller, using PC, mobile or tablet.

The Tour Itinerary

Date Destination Activity
29 September- 1 October Dallas, Texas East Africa Chamber of Commerce Annual Trade Conference  @ Sheraton Galleria
2 October Dallas, Texas Meetings with local Kenyan churches
3 October Dallas, Texas Town Hall meeting with US-Kenyan Diaspora Organization
5 October Edmond, Oklahoma Meetings with various investment clubs (Chamas) and individuals
6 October Oklahoma City Town Hall meeting on investing in Kenya’s financial market
7 October Oklahoma City Meeting with various investment clubs (chamas) and individuals
8 October Oklahoma City Home visitsGoat eating with Oklahoma Kenyan Community
9 October Oklahoma City Sunday Service at Authority Church

For more details, contact joseph.waithaka@abcthebank.com or diaspora@abcthebank.com