Interior Cabinet Secretary Kipchumba Murkomen today chaired a crucial multi-agency meeting with development partners, banking institutions, and other key stakeholders to discuss strategies aimed at fast-tracking the financial inclusion of refugees in Kenya.
The meeting, held with representatives from both local and international institutions, focused on ways to fully onboard refugees into commercial activities, an initiative that Murkomen believes will benefit not only the refugees themselves but also empower host communities and contribute to the broader national economic development.
"Fully integrating refugees into the commercial sector will help unlock economic opportunities, create jobs, and foster greater economic stability in both the refugee and host communities," CS Murkomen stated. He emphasized that financial inclusion plays a critical role in enhancing the livelihoods of refugees while promoting the economic resilience of the country at large.
A key focus of the discussions was the ongoing policy and regulatory reforms around refugee identification and management. These reforms are part of Kenya's broader plan to strengthen the socio-economic inclusion of refugees and ensure their active participation in the country's economic development.
Present at the meeting were a number of high-ranking officials and representatives from various institutions. Immigration and Citizen Services Principal Secretary Prof. Julius Kibet Bitok participated in the discussions, alongside Moses Nyabanda, the Managing Director of Equity Bank Kenya Limited, and Saitoti Maika, Director General of the Financial Reporting Center. The meeting also saw participation from the International Finance Corporation (IFC), the World Bank, the Central Bank of Kenya, and the Communications Authority of Kenya.
The stakeholders discussed key areas of collaboration, with a focus on enhancing the regulatory framework to ensure refugees have access to financial services, including banking and digital payments. Additionally, participants explored ways to improve the documentation process for refugees, which is crucial in facilitating their integration into the financial system.
CS Murkomen expressed confidence that the discussions would lead to tangible outcomes that would not only improve the economic status of refugees but also contribute to the overall growth of Kenya’s economy. He reiterated the government's commitment to ensuring that refugees are given the tools and opportunities to thrive alongside host communities, promoting inclusivity and national unity.
The meeting underscored the importance of partnerships between government agencies, financial institutions, and international organizations in driving the financial inclusion agenda, which is expected to have long-lasting benefits for both refugees and their host communities.
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