Diaspora Kenyans, Ndara B Community and Kenyans who are founders of the Diaspora University Town (DUT) continue to progress their project. They are developing: Diaspora University; Diaspora Medical Hospital; Diaspora University Town; Daktari Biotechnology Ltd, for medicines and vaccines; DUT Credit Ltd, financial company and diverse MSMEs. The 2024- 2028 plan is for achieving, “The DUT $1.5 billion wealth creation.”
Dan Kamau, formerly of Worcester, MA is the project director. When updating the founders during the DUT weekly Saturday Zoom meeting, Dan showed the current project capital valuation of $50 million. This was broken down to: Diaspora University Trust, $32 million; Townhouse developers, $6 million and Micro Small and Medium Enterprises (MSMEs), $12 million.
He further explained how DUT will progress as the founders continue to invest in property and MSMEs establishment. He said Diaspora Kenyans today have an opportunity to flow in $500 million as 20,000 jobs are created and over 100 million hours made productive. The capitals of money, intellect and productive hours will advance the wealth creation to $1.5 billion wealth. A GDP of about $200 million will also be developed.
The table showed the $1.5 billion wealth created held by: Diaspora University, $300 million of which $100 million will be loans to several properties; residential properties, $600 million with $300 million as loans; and, the MSMEs, $600 million with about $100 million in property loans.
Diaspora University $300 Million Wealth
The Diaspora University assets are valued at $32 million endowment. The 2024-2028 plan is to grow the assets to reach $300 million assets financed by $200 million endowment and $100 million loans. DUT Credit Ltd, through the $500 million remittances targets to issue the loans.
The $300 million assets will incorporate five (5) properties totaling 404 acres. Equipment, Students finance fund and other assets of Diaspora University, Medical Hospital, Fields and Parks, Technical High and Recreation Park.
Also included in the $300 million wealth will be the Town assets made up of: 81 properties that total to 127 acres, equipment and systems managing and sustaining the town.
Residential Property $600 Million Wealth
The residential property included 3.500 townhouses planned in 3,500 plots totaling 402 acres; 3,200 apartments planned in 8 plots totalling 47 acres and other residential houses. The collective valuation based on the $200 million GDP created will be about $600 million.
The residential houses will be used by students, persons taking up 15,000 jobs in the town, persons working around the region and Diaspora coming to retire in the town.
DUT Credit is working on the plan that will see it take up some of the business of the $300 million loans.
MSMEs $600 Million New Wealth
139 plots that occupy about 210 acres will be applied toward diverse MSMEs.
Daktari Biotechnology Ltd Medicine and Vaccine MSME that Diaspora Kenyans are investing in is projected to be the biggest MSME. It will create about $150 million (25%) of the $600 million wealth. Diaspora Kenyans are investing to build and equip the plant on 11 acres and open pharmacies in several MSMEs plots. The Company and Scientists will also be affiliated with the Diaspora University departments of Biology & Biotechnology and Chemistry & Biochemistry. Diaspora Kenyans are investing to build and equip the plant.
DUT Credit Ltd, is another MSME that was projected to reach a wealth of $100 million. The growth achieved through the share capital investment plan, deposits after getting a deposit taking license and the issue of loans in the $500 million loans opportunity created.
The remaining $350 million of wealth will be reflected by the other 300 MSMEs that open at DUT.
