The recent depreciation of the Kenyan Shilling (KES) against major currencies has stirred discussions about its impact on various aspects of the economy. For Kenyan expatriates residing in the USA with aspirations to build in Kenya, the depreciated currency presents a unique opportunity. This article explores the advantages of the weakened Kenyan Shilling for the Kenyan diaspora in the USA, emphasizing the benefits of considering EcoConcrete beam and block construction for their building projects.
Increased Building Budget Efficiency:
The depreciation of the Kenyan Shilling against the US Dollar can be seen as a silver lining for Kenyan diaspora residents in the USA. Those earning in foreign currencies, especially the US Dollar, will find that their funds for construction projects in Kenya now have increased purchasing power. This enables them to undertake more ambitious projects or allocate additional resources to enhance the quality of their builds.
Lower Costs for Construction Materials:
One of the significant advantages of a weakened Kenyan Shilling is the reduction in the cost of construction materials, which are often imported. Building materials such as steel, cement, and other essentials become more affordable when converted from foreign currencies. This translates into cost savings for diaspora investors, allowing them to optimize their budgets effectively.
Favorable Loan Repayment Conditions:
For those relying on loans for their construction endeavors, the depreciated Kenyan Shilling can lead to more favorable loan repayment terms. As foreign income gains value in local currency terms, loan repayment becomes more manageable, easing the financial burden on diaspora investors.
EcoConcrete Beam and Block Construction: A Strategic Choice for Diaspora Building:
In addition to capitalizing on the currency depreciation, Kenyan diaspora residents planning construction projects in Kenya should consider innovative construction methods. EcoConcrete Beam and block construction, characterized by precast concrete beams and blocks, offers several advantages:
Cost-Effective and Time-Efficient:
Beam and block construction significantly reduce construction time and can be more cost-effective compared to traditional methods.
Structural Stability:
The system provides a robust and stable structure, ideal for various building types, including residential homes and commercial buildings.
Thermal Efficiency:
With built-in insulation, beam and block systems contribute to energy efficiency, a crucial consideration for the Kenyan climate.
Reduced Labor Requirements:
The use of precast components minimizes the need for extensive on-site labor, making it an efficient choice for construction projects.
Versatility:
Beam and block systems are versatile and can be customized to suit different architectural designs and project requirements.
The depreciation of the Kenyan Shilling presents a strategic opportunity for Kenyan diaspora residents in the USA to realize their building dreams in Kenya. By leveraging the advantages of a weakened currency and considering innovative construction methods like beam and block, diaspora investors can not only maximize their financial efficiency but also contribute to sustainable development and economic growth in their homeland.