Diaspora’s Billions Now Funding Solar, Water and Green Farming
Kenyans living abroad are now channelling their remittances directly into climate projects at home through a new savings model built on SACCOs — and three cooperatives have already launched products to make it happen.
Stima, K-Unity and Kenya USA Diaspora SACCO have introduced climate-focused deposit accounts that let diaspora members earn competitive returns while funding solar energy systems, irrigation infrastructure, climate-smart agriculture and green housing in their home communities.
The model taps into the nearly $5 billion Kenyans abroad send home every year — money that has historically gone to family upkeep with no structured path toward community investment. Now, through these SACCO accounts, it can.
Kenya’s SACCO sector is well-placed to carry this. With over 7 million members and deep roots in rural and peri-urban communities, SACCOs already understand the climate pressures their members face. Climate-related shocks currently cost Kenya between 3 and 5 percent of its economy annually.
The pilot, backed by the World Council of Credit Unions (WOCCU) and Ireland’s ILCU Foundation, runs through July 2026, targeting over 200 new accounts. Early uptake suggests strong appetite among diaspora members for savings products tied to measurable impact back home.
