DUT $100 Million Finance

Dan Kamau, the Diaspora University Town Project Director and Diaspora University Trust Executive Trustee, answered a few questions on the Diaspora University Town project and the $100 million finance the project is seeking.

Can DUT take up a finance of $100 million and repay the finance back plus interest?

The project is currently capitalized at about $50 million. This is made up of the Diaspora University Trust endowment that is capitalized at $32 million, the Townhouse developer’s capital of $6 million and the MSMEs Capital of about $12 million. The project plan can take in $100 million and repay the amount back plus the interest of the money.

(Left) Sam Muturi CEO of Consolidated Bank & Dan Kamau of DUT at Consolidated Bank

How many jobs will be created with this finance?

Once the finance comes into the account the project can create over 3,000 jobs in the first month and grow to about 5,000 by the third month. On the DUT side the biggest job creators will be the two production tracks of 20 towns every 16 weeks will create about 1,300 jobs. The 14 industries in Ndara B will collectively create about 1,600 jobs as over 50 building products are produced. The jobs will grow to 15,000 jobs in the DUT 1,500 acres plan and another 5,000 jobs in the Ndara B 4,000 acres Plan. Through the 20,000 jobs over 100 million hours of human resource will be applied productively.

DUT Environment Department that is progressing 200,000 trees planting,

What will be the productions of the finance?

As the finance is applied to the Master Development Plan there will be productions as follows:

15,000 Jobs Created.
25,000 Residents Town Developed.
3,500 Town Houses and 3,200 Apartments Completed.
KSh 20 Billion Diaspora University Endowment Developed.
5,000 University Students Enrolled.
Diaspora University Medical Hospital with Specialty Clinics.
300 Micro Small & Medium Enterprises.
300 Design-Build Contracts Completed.
1.5 million Square Meters of Built Space & 60 km Road & Infrastructure Network from 300 Design-Build Contracts Completed.
2 million liters of clean water a day. 700 million liters a year.
Ksh15 billion Gross Domestic Product (GDP) Developed.
Ksh100 Billion New Assets/Wealth (University Ksh30 billion, Individuals and MSMEs Ksh70 billion)
Ksh50 billion Property Mortgage Finance & MSME Finance.
200,000 Trees Planted in Town.

How long will it take to achieve the above results?

Our target is 5 years from the day the finance comes in. Note it is the human resource application in different productions that shall control the time. The more time hours put in the faster the production.

What success story are you basing the project on?

There are over 1,000 university and college towns in the U.S. The Master Development Plan is based on the success stories of these towns. Cambridge town in the state of Massachusetts (MA) was started in 1646 alongside Harvard University also started in 1636. Today, after 277 years, the town is home to about 120,000 residents. Harvard and MIT universities enrol about 35,000 students every year and are the biggest employers and are employing over 22,000 persons.

How many people are developing the project?

500 Diaspora Kenyans are already developing the project. Ndara B Community made up of about 3,000 adult members are the other developers. There are over 100 Kenyans in Kenya. As stated earlier the developed capital so far is $50 million. This will grow to about $1 billion (Ksh 100 billion.) The developers will also grow to about 5,000 Diaspora Kenyans, 5,000 Ndara B Community members and another 10,000 Kenyans in Kenyans. The 20,000 would be the owners of the new wealth created.