Diaspora University Town (DUT) Project Director, Dan Kamau, Diaspora University lead founder, Prof. Philliph Mutisya, KCB Bank Voi Branch manager, Benson Mutie, and KCB Relations Manager, James Oloo had extensive talks on the DUT 20,000 jobs creation, 3,778 properties development, and 330 MSMEs plan. This plan will lead to about Ksh 50 billion new banking deposits, Kenya Mortgage Refinance Company (KMRC) finance of about Ksh 35 billion, Ksh 70 billion loan and mortgages issued, Ksh 200 billion new wealth created, and a new GDP of Ksh 20 billion.
Ksh 50 Billion Bank Deposits
The DUT plans to grow deposits: The 20,000 job creation plan will make 100 million hours of human resources productive, producing goods and services that sustain the workers and their families. These hours will produce about Ksh 30 billion in new deposits in the bank. The Diaspora Kenyans DUT investment plan will achieve about Ksh 10 billion in investments and deposits. The land and natural resources applied in property building and building materials will achieve another Ksh 10 billion deposits.
Ksh 35 Billion KMRC Finance
Kenya Mortgage Refinance Company (KMRC) primary goal is finance houses. The DUT plan of 6,700 housing units (3,500 townhouses and 3,200 apartments) will tap about Ksh 25 billion through KCB Bank.
Ksh 70 Billion Loans
The Ksh 70 billion loans were discussed based on the following categories: 3,500 Townhouse Mortgages, 3,200 apartment mortgages, 45 other residential properties, 5 University Properties and equipment loans, 12 Town Properties and equipment loans, 300 DUT MSMEs Property and equipment Loans, and 30 Ndara B MSMEs Equipment and vehicle Loans.
The growth of banking assets through loans issued is what leads to attainment of the rights in Kenya Constitution 42, 43 and 53. The rights of environment, healthcare, housing, clean water, social security, education, and children rights.
Ksh 200 Billion New Wealth
The 3,778 properties and 300 MSMEs established will create a new wealth of Ksh 200 billion. The Ksh 70 billion loans will represent about 35% of this new wealth.
Ksh 20 Billion New GDP
The DUT Master Development Plan is a Gross Domestic Product (GDP) growth plan. The DUT project will lead to Kenya GDP growth by Ksh 20 billion. About 40% of this new GDP will be applied toward the Ksh 70 billion loans and interest repayment yearly.
