[29th July 2015]

AMBASSADOR OPENS THE AFRO-EAST INVESTORS' COMPANY LIMITED

His Excellency Ambassador S.K. Maina today 25th July, 2015 opened the inaugural meeting of the Afro-East Investors' Company Limited at the Kenya Embassy in Tokyo. The meeting brings together Kenyans who have paid up their membership to the Afro-East Investors Company. The Company is basically the Investment Vehicle of the Kenyan Diaspora in Japan who have resolved to pull their resources together to enable them participate as Foreign Investors back home. To join the Company Kenyan nationals in Japan are expected to pay a membership fee of Kshs.5, 000 each and to purchase a maximum of 2 shares per person at the cost of Kshs.25, 000 each. The proceeds are then invested in various assets back home in keeping with the Memoranda of Association. Members are also expected to be meeting annually to receive their dividends and to discuss the way forward for the next financial period.

Addressing members in their inaugural meeting, H.E. the Ambassador lauded Kenyans them for the noble initiative and underlined its value not only as an instrument to enable them invest in Kenya but also as a vehicle to bring them together where they can form lasting friendships and partnerships.

H.E. the Ambassador further underscored the fact that the Government of Kenya is committed to helping the Diaspora invest back home and will in the near future launch the Diaspora Bond as intimated by H.E. the President during his recent official visit to Japan in March, 2015. This Bond will not only be a valuable avenue for investments into Kenya but will also ensure maximum participation by the Diaspora in the Development of National Infrastructure.

H.E. the Ambassador commended the Kenyan Diaspora in Japan for making a clear decision to invest back home noting that these sorts of investments will eventually realize the impressive benefits for them and their children.

The meeting was also addressed by Dr. Emmanuel Mutisya, the Chairman of the Kenyans in Japan (KIJA). He has been acting as the Chair of the Afro-East Investors Company.

Dr. Mutisya updated members on the steps taken so far to actualize the vision of the Company and welcomed their proposals regarding the Company's strategic plan and its operations. Finally the Company elected 5 Interim Board Members led by its new Chair, Mr. Ali Attas. The new office bearers will lead the Company till an election of new office bearers.

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