Dan Kamau the Diaspora University Town (DUT) project director and Diaspora University Trust executive trustee answered questions on the Diaspora University Town project and the Ksh 100 billion new wealth that will be created at DUT.
What does DUT aim to achieve?
Diaspora University Town project primary goal is to achieve the constitutional rights of Kenyans through development of a town settlement. As the world population has grown, so have settlements. During the time I lived in the city of Worcester, MA, I got my rights to a clean and healthy environment from the city plan. I got my economic and social rights from the jobs created in the town. DUT will achieve the environment, social and economic rights for those who get jobs at the town and those who reside in the town.
What will be achieved when the Diaspora University Town is developed?
The following will be achieved as the Diaspora University Town is developed and sustained.
- 15,000 Jobs Created and 25,000 Residents living in Town.
- 3,500 Town Houses and 3,200 Apartments Residential units.
- KSh 20 Billion Diaspora University Endowment Developed.
- 5,000 Students Diaspora University.
- Diaspora University Medical Hospital with Specialty Clinics.
- 300 Micro Small & Medium Enterprises.
- 3.778 properties that are serviced by 60 km Road & Infrastructure Network.
- 200,000 Trees Planted in Town.
- Ksh15 billion Gross Domestic Product (GDP) Developed.
- Ksh100 Billion New Assets/Wealth (University Ksh30 billion, Individuals and MSMEs Ksh70 billion)
Tell us more on how Ksh 100 billion new assets/wealth will be created?
Wealth is created through the property and valuation of MSMEs. The 3,778 properties will be valued at about Ksh 70 billion as the environment, economic and social plans in town are progressed and sustained.
The 3,500 townhouses will be valued at about Ksh 35 billion. The 3,200 apartments will have a value of about Ksh 12 billion. The university and MSMEs properties value will be about Ksh 23 billion.
The systems and plans of the university and 300 MSMEs valued through other assets and profitability of companies will be about Ksh 30 billion.
The university will have a wealth of about Ksh 30 billion and the individuals and MSMEs the Ksh 70 billion. About 50% of the wealth will be outstanding loans from banks of about Ksh 50 billion.
The 50% or Ksh 50 billion new wealth after deducting the outstanding loans is what those investing as townhouse developers and MSMEs investors will create as they create jobs and develop housing for others. For example an investor who develops 4 townhouses, 50 apartments, invests in DUT Credit, invests in Daktari, invests in other MSMEs, and/or opens an MSMEs at DUT, can create new wealth of even Ksh 200 million from the Ksh 50 billion.
Has this concept worked elsewhere?
Yes. The U.S GDP of $23 trillion, the Singapore GDP and other developed countries, whose GDP per capita has surpassed $10,000, have grown through the concept of people applying their resources productively to meet their environment, economic and social needs.
When a Kenyan leaves Kenya and goes to a country where they have no land capital, they rely on a job to give them income for their food, housing, healthcare and other needs. The job enables them to buy a home through a mortgage and become residents of the town or city the house is in. Through the job and the house they start creating new wealth. That is why the house was called, “The American Dream,” as it was applied to achieve the environment, economic and social rights.
Dan Kamau can be reached via Email dan@dut.or.ke
Website www.dut.or.ke
